30 December 2015
My firm is proprietor & working as civil engineers & contractors. most probably i am doing all types of civil construction works. i got a job for construction of building in the accounting year 01.04.11 to 31.03.2015 and completed the same in f.y. 14-15 till date my pending amt. due from debtor of rs. 3,07,95,299 from total work rs. 56989103 during the year last payment rs. 500000 on 12.08.2013 then after employer could not pay any more i also submit litigation in court for same amt.rs. 30795299/- now current financial year 01.04.2015 to 31.03.2016 my net profit should approximate 6000000/ 7% of total turn over , my due amt of the same employer of rs. 30795299/- should i booked lose for the current .f.y year and balance of loss carry forwards for the next f.y. please advise me for the above reason
CAclubindia
