Page tree

Versions Compared

Key

  • This line was added.
  • This line was removed.
  • Formatting was changed.
align

Overview

The Zeta Asset Card is a digital tax benefit card designed to help corporates to manage the movable assets purchase program for employees.

Corporates

Employers can issue asset cards to employees to disburse and approve various asset related allowances electronically as per company policy

and as defined in The

while adhering to the IT taxation rules.

The recommended or allowed asset types are electronic gadgets such as laptops, tablets, and smartphones for office use only.

 The entire program is flexible and

customized

customised to suit your corporate policy and also enables employees to increase their take-home salary, thus

minimizing

minimising their overall tax burden.

Note

The recommended or allowed asset types are electronic gadgets such as laptops, tablets, and smartphones for office use only.

In an organization scenario, HR would need to create an asset card program and then load currency into the employee’s asset card using Zeta Optima platform every month. You may also set or define a range of gadgets to choose from as well as merchants or e-commerce portals to buy from. An employee can redeem asset cards against gadget purchases and then upload the bill evidences using the Zeta app to avail income tax benefits as per IT guidelines.

Potential Challenges Zeta Addresses

Some challenges that we are trying to overcome are:

  • Cumbersome and manual asset purchase claim process

  • No visibility and transparency in asset purchases

  • No tool to analyse the asset card usage

  • Lack of cloud storage for housekeeping the bills digitally 

  • High probability of losing the asset bills in case of physical storage

  • Manual verification, audit, approval and delay in payment settlement

Key Features

An array of features of Optima asset platform are:

  • Provides web interface for HR professionals to access corporate benefit platform

  • Provides web interface and mobile app interface for employees which is available in android, iOS and windows versions.

  • Enables HR to create and manage fuel asset card orders with the provision of using custom configurations.

  • Provision of revoking unused asset card amount

  • View and analyze every transaction data and invoices. For example, viewing all asset debit and reversal transactions

  • Enables employees to upload the asset purchase claim for reimbursements

Note

Asset card is valid for a fiscal year unless otherwise specified by the organization.

Key Benefits

The Optima asset platform Asset Card delivers the following benefits:

  • Digital and intuitive interface streamlining the overall asset purchase claim management

  • Ease of managing employee asset accounts electronically

  • Ease of accessing e-commerce portals from Zeta app to buy electronic gadgets

  • Eliminate the need of manual bill submission since it is a prepaid instrument

  • Secure and easy to redeem and submit supporting billis using Zeta app

  • Premium customer support

Children Display
depth5
pageAsset Cards
first2

For employers:

  • Streamlines the overall reimbursement process digitally.

  • Provides provision for digitally verified and signed bills for approval.
  • Provides a flexible option for customisation.
  • Provides an effortless way of managing employees' accounts digitally.

  • Provides premium customer support.
  • Mitigates human errors.
  • Eliminates logistic cost.

For employees:

  • Provides both online and offline payment option.

  • Provides the option of paying by any denomination.
  • Eliminates the need for manual bill submission and last-minute hassle of collecting bills.

  • Eliminates the process of storing and procuring bills.
  • Provides a secure and effortless way to use and redeem asset card's balance to save tax.

  • Provides premium customer support.


Panel


Div
classalignLeftIcon

On this page:

Table of Contents