banner_ad

Llp

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
26 August 2011 we had LLP and at the end of the year 31st March, 2011, we had transferred profits in the Partner Capital Accounts. Now the question is how the said profit disclosed in the Balance Sheet of LLP - as Contribution or Reserves & Surplus. If i disclose as Contribution then can distributed profit convered under the definition of Contribution?
Profile Image

CA Hardik Bunha

Profile Image

CA Hardik Bunha (Expert)
27 August 2011 YOU HAVE TO TRANSFER PROFIT IN ''RESERVES & SURPLUS''
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
27 August 2011 Thanks. But i can not transfer profit to partners capital account? as it is allowed to transfer the profit to Capital Account under LLP Act. Reply me in that context also. Bcoz i had already transfer the profit to partners capital account.
Profile Image

CS Bijoy

Profile Image

CS Bijoy (Expert)
27 August 2011 According to me it was transferred to partners capital account so it was included in the capital and if shown again in Reserve and Surplus than it will affect 2 time.

If wrong please correct.....
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
07 June 2026
Tax Associate

Rajkumar Jain & Co.

Ahmedabad

Graduate (Any)

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details