35. (1) All income classifiable under the head ¹[ "Agricultural income",] "Income from business or profession" or "Income from other sources" shall be computed in accordance with the method of accounting regularly employed by the assessee.

²[ (2) Notwithstanding anything contained in sub-section (1), the Board may, in case of any business or profession, or class of business or profession, or any other source of income, or any class of persons or class of income, by a general or special order, direct that the accounts and other documents shall be maintained in such manner and form, and the mode of payments of commercial transactions recorded in such manner and form, as may be prescribed or as may be specified in such direction; and thereupon the income of the assessee shall be computed on the basis of the accounts maintained, payments made and transactions recorded accordingly.]

³[ “(3) Without prejudice to the preceding sub-sections, every company as defined in ⁴[clause (20) of section 2] shall, with the return of income required to be filed under this Ordinance, furnish a copy of the trading account, profit and loss account and the balance sheet in respect of the relevant income year-

(a) certified by a chartered accountant to the effect that the accounts are-

(i) maintained and the statements are prepared and reported in accordance with Bangladesh Accounting Standards (BAS) and Bangladesh Financial Reporting Standards (BFRS) or in accordance with International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS) as adopted in Bangladesh; and

(ii) audited in accordance with the Bangladesh Standards on Auditing (BSA);

(b) signed by the persons including as many directors as required

under sub-sections (1) and (2) of section 189 of কোম্পানী আইন, ১৯৯৪ (১৯৯৪ সালের ১৮ নং আইন);]

(4) Where-

(a) no method of accounting has been regularly employed, or if the method employed is such that, in the opinion of the Deputy Commissioner of Taxes, the income of the assessee cannot be properly deducted therefrom; or

(b) in any case to which sub-section (2) applies, the assessee fails to maintain accounts, make payments or record transactions in the manner directed under that sub-section; or

(c) a company ⁵[ * * *] has not complied with the requirements of sub-section (3) ⁶[ or the certification of accounts is not found verifiable];

the income of the assessee shall be computed on such basis and in such manner as the Deputy Commissioner of Taxes may think fit.