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Llp balance sheet preparation

This query is : Resolved 
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(Querist)
24 October 2013 please tell where to transfer profit in balancesheet so that partners can withdraw their share??
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
24 October 2013 to their respective capital or current accounts as the case may be.
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kunal

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kunal (Querist)
26 October 2013 please tell where to show it in LLP balance sheet(standard format)
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
26 October 2013
Partners’ funds:
(b) Reserves and surplus (Surplus being
the profit/loss made during the year)
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kunal

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kunal (Querist)
26 October 2013 sir please tell is there any tax on distribution of profit in llp?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
26 October 2013 No. Not tax on distribution of income.
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kunal

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kunal (Querist)
26 October 2013 thank you sir
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
26 October 2013 you are welcome
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