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In India, income tax is imposed on individual taxpayers on the basis of a slab system where various tax rates have been prescribed for various slabs and such tax rates keep increasing within the income slab. The Union Budget 2020 introduced a new income tax scheme with decreased tax rates for those ready to forego …

All That You Should Know About Income Tax Slabs and Rates In India Read More »

What is Payroll Accounting? Payroll accounting consists of  a company’s recording of its employees’ compensation including: Benefits of outsourcing payroll You can do a direct deposit Without the help of an outside payroll processing company, it is challenging to deposit money directly to your team members’ accounts. Nowadays, every company, big or small, has understood …

Payroll Accounting: Definition and Benefits Read More »