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Llp

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(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
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Aditya Maheshwari

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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.
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ABDUL VAJEED

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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
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Aditya Maheshwari

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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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