Hey guys , i just wanna know that is it compulsory for a pvt company to strictly follow SLM method under stat audit .
Secondly is it true that as per income tax audit only WDV method is correct method .
Please confirm the assumption , if incorrect please let me know in brief
AS PER I.T. ACT ONLY W.D.V METHOD IS ALLOWED EXCEPT FOR ELECTRICITY GENERATORS AND TRANSPORTER COMPANIES
No under statutory audit it is not compulsary for a PVt. company to follow SLM only.
as per IT act, only WDV is allowed except the exception which is given in above reply
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