Llp
This query is : Resolved
ABDUL VAJEED
(Querist)
16 August 2011
Hi
If a partner in LLP transfers his capital , how it should be accounted in Books ? what formalities to be followed ?
Abdul
If a partner in LLP transfers his capital , how it should be accounted in Books ? what formalities to be followed ?
Abdul
Aditya Maheshwari
(Expert)
16 August 2011
what do u mean by transfer.
If funds are transferred then account for in the books of LLP as u do for partnership firm.
If funds are transferred then account for in the books of LLP as u do for partnership firm.
ABDUL VAJEED
(Querist)
17 August 2011
transfer: One partner pooled capital 500000/- in te beginnig other 100000/- . total capital 600000/- Now they want their capital to be equal so other partner is giving 200000/- to the first one , In partnership i understand that i can pass entry incresing ones capital and reducing another's But in LLP how to effect it , Some said me saying that capital will not effect and just transfer of shares has to be done
Aditya Maheshwari
(Expert)
17 August 2011
First see what the LLP deed states and then u can also enter jv in books of partners.
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