Method of accounting.

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..... larly employed by the person. (2) The Central Government may from time to time notify accounting standards to be followed by any class of persons or in respect of any class of income. (3) The valuation of purchase of goods and inventory for the purposes of determining the income chargeable under the head "Income from business" shall be— (a) in accordance with the method of a .....

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..... the financial year in which the interest is credited to the profit and loss account of, or is actually received by, the financial institution, whichever is earlier. (6) The interest received by a person on compensation or an enhanced compensation shall be included in the total income of the financial year in which it is received. (7) In this section,— (a) any tax, duty, ce .....

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