Method of accounting.

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....egularly 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— ....

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....y tax, duty, cess or fee (by whatever name called) leviable on the sale of the goods.      (5) The interest on bad or doubtful debts of any financial institution shall be included in the total income of 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.  ....