Within description of the radiation transfer in terms of the Bethe-Salpeter equation the Monte Carlo simulations of the photon migration in tissue models are performed for the time and frequency domains. In frameworks of a unique approach we succeed to calculate histograms of ultra-short pulse radiation in the time domain and parameters of the diffuse photon density wave (DPDW) in the frequency domain, for a range of optical parameters typical for tissues. The simulation results turn out to be in an excellent agreement with the measurements performed earlier for aqueous solutions of Intralipid mostly used as bio phantoms. We find that our approach results in the signal-noise ratio much larger in comparison with the conventional Monte Carlo approach. It permits to reduce significantly the sampling volume.