Transfer of LLP interest by partner to third party

V Gupta (5 Points)

23 November 2021  

One of the partner of LLP wants to transfer part of interest in LLP to third party at fair market value of the valuation of business.

Whether the transaction would be entered directly by partner and third party or through books of LLP?

Further whether LLP would be liable for capital gains or  charged in the hands of individual partner selling interest in LLP.

What would be format for such transfer agreement.