Query regarding llp

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 July 2013 Sir,

partners contribution as per llp agreement 100000.

further llp agreement has been drafted in such a way that current account be debited or credited with drawings or money brought in, share profit and remuneration payable and that the balance in current account at year end be transferred to capital account so that when the next year opens the current account has nil opening balance.

so does this mean that capital account increases or decreases by current account balance?

how does this affect filling form 8 and form 11?

if current account balance is positive, obviously capital account will increase because of such transfer; in such a case do we have to file with mca that the capital has increased?

please advise

Querist : Anonymous

Querist : Anonymous (Querist)

22 July 2013 can some expert recommend to this query of mine

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