Company llp

Tanuj Chandra Saxenaa (Company Secretary) (7070 Points)

11 December 2021  
A Pvt. Ltd company converted into LLP in FY 20-21. All assets and liabilities has been transferred into LLP.

Paid up Share Capital: 1 lacs
Reserves & Surplus : Rs. 50 lacs

Query: Can Partners withdraw from reserves & Surplus transferred in LLP ?

Is there any tax implication in LLP?