Remove Designated Partner

Need to remove designated partner?

Remove Designated Partner Starting at Just Rs.1,999/- (Inclusive of all Govt. Fees).

Remove Designated Partner

Removal of Partner by majority will require filing a form within 30 days of the decision-making duly signed by a designated Partner and the records being validated by a chartered accountant.

Removal of Partner

  • Death of the Partner
  • Dissolution of the LLP
  • If Partner is declared to be of unstable mind
  • If Partner is declared as insolvent

The procedure of removal of Partner

  • Preparation of financial statements and division of assets among the Partners from the date of resignation
  • Redrafting the LLP agreement
  • Tax compliances applicable to retiring Partner

Documents Required


Digital Signature of DSC of Partners


LLP Agreement / Partnership Deed

FAQ

What is the liability of a ceased partner in an LLP?

The designated partner on his cessation is discharged from all the liabilities, on filling the notice of the same with the registrar.

What is the time limit to intimate the registrar about the cessation of the designated partner?

LLP has to intimate such changes to the registrar within 30 days from the date of cessation of the designated partner.

What are the rights of the designated partner on his cessation?

The formerly designated partner is entitled to receive:
a. An amount equal to the capital contribution, and
b. His share in the accumulated profits of the LLP

In what circumstances an existing partner cease to be a partner of an LLP?

a. When the LLP get dissolved b. On the death of the designated partner c. When a partner has an unsound mind

Success is doing ordinary things extraordinarily well.

Basic
1,999
/-

(Inclusive of all Govt. Fees).

Remove Designated Partner In Partnership Firm

Get Started

Standard
2,499
/-

(Inclusive of all Govt. Fees).

Remove Designated Partner in LLP

Get Started

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