LLP
This query is : Resolved
CA. Praveen Narayan
(Querist)
09 September 2010
Accounts of LLP s required to be audited by a CA, if parter`s contribution exceeds Rs.25Lakhs. Can any1 tel whether ths contribution s initial contribution or after considering Profits/loss in each year or after considering addl capital/drawings ???
Aditya Maheshwari
(Expert)
09 September 2010
only intital contribution.
As per LLP agreement the accounting for further investment made by the partners will be done either in current account or loan account.
As per LLP agreement the accounting for further investment made by the partners will be done either in current account or loan account.
CA. Praveen Narayan
(Querist)
09 September 2010
Thank u very much sir..
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