retirement cum admission of partners in LLP

[Menaka]

Dear members ,

In a LLP there are three individual  designated partners X, Y & Z. 

Y & Z retire as partners  & Two Body corporates-  A & B Ltd(private cos ) are admitted as partners into LLP . Their nominees P & Q are appointed as designated partners .

The date of event  is 18/01/2021. On same day,  both retirement & admission happens .

Profit sharing ratio is also getting changed .

Kindly advise & guide on the technical aspect with respect to filing of Form 3 & Form 4 . 

[CS Hema Gaitonde]

1.  Supplementary LLP Agreement to filed as an attachment to Form 3.

2.  Resignation letters of outgoing partners and consent of  incoming partners with LLP resolutions for the same to be filed as attachment to Form4 .

3. File Form 3 and Form 4  to be uploaded as linked forms.

CS Hema Gaitonde

[CS Menaka]

Grateful to you for the reply Hema

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What would be treatment in terms of Income Tax Perspective like Capital Gain or Any References?

On Tuesday, February 16, 2021 at 2:49:18 PM UTC+5:30 Menaka wrote: