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Change in Profit and Loss Ratio of Partners

Change in Profit and Loss Ratio of Partners

The Limited Liability Partnership (LLP) Agreement is the charter of the LLP, similar to the Memorandum of Association and Articles of Association for a private limited company. It defines the scope and extent of the LLP's operations as well as the rights, duties, obligations of the partners. Altering the agreement is straightforward. All you need to do is pass a resolution approving the revision in the LLP Agreement.

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₹ 5000/-
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₹ 3004 incl. GST
Complete Date
28-03-2026

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Scope of Work:

  • Preparation of Supplementary LLP Agreement;
  • Preparation of documents for attachment in e-forms;
  • Preparation of e-forms;
  • Arranging for Certification of e-forms;
  • Resubmission of e-forms, if any.

FAQs

It means altering the percentage in which partners share the profits and losses of a partnership firm. This change can happen when partners mutually agree to revise their sharing ratio due to changes in roles, capital contribution, or business strategy. The new ratio must be recorded in the Partnership Deed.

Partners can change the ratio:

  • When a partner increases or reduces capital contribution
  • When responsibilities or roles change
  • When a partner retires or a new partner is admitted
  • By mutual agreement of all partners
  • The change must be documented legally to avoid future disputes.

Yes. The Partnership Deed must be amended to reflect the new profit and loss sharing ratio. Without updating the deed, the old ratio remains legally valid, which can lead to accounting and legal issues.

  • For a traditional Partnership Firm, filing with the Registrar of Firms (ROF) may be required depending on state laws.
  • For an LLP, the change must be updated in the LLP Agreement and filed with MCA using Form 3 within 30 days.
    Non-compliance may attract penalties.

Common documents include:

  • Consent of all partners
  • Revised Partnership Deed / Supplementary LLP Agreement
  • Identity and address proof of partners
  • Capital contribution details (if changed)
  • Board/Partner Resolution (for LLP)

These documents ensure the change is legally valid and properly recorded.

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