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  • Created by Unknown User (saptarag), last modified on May 23, 2017
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Optima Books & Periodicals is a complete paperless solution for corporate Books & Periodicals reimbursements. An employee can redeem the balance of their the card against books & periodicals expense to save income tax. The solution is completely customizable to suit your company policies. Optima Books & Periodicals is a digital card designed to help organizations to get tax exemption on books & periodicals expense.This benefit is extended by employer to employees for purchasing newspapers, magazine, books and periodicals which are related to the profession of the employee. Organizations can determine monthly or fiscal limits for their employees.

Zeta doesn’t own any tax accounting responsibility on corporate conveyance allowances. It is recommended to organizations to adhere to the IT guidelines to deal with both conveyance allowance and reimbursement of driver salary expenses.

Useful Facts

A few facts to remember:

  • Any unclaimed amount in Books & Periodicals card in a fiscal year would be treated as a taxable component. In this case, you receive the amount after the tax deduction.

  • By default, Books & Periodicals vouchers are valid for 3 years. You can customize this for your organization.

  • Reimbursement is valid for one year.

  • There is no limit set by the Income tax department on this. However an organization can choose to set a limit for their employees according to their company policy.

Potential Challenges Zeta Addresses

Some challenges that we are trying to overcome are:

  • Cumbersome claim process.

  • Housekeeping the manual bills and high probability of losing the bills.

  • Manual verification, approval and delay in payment settlement

Key Features

Arrays of the feature of Books & Periodicals Card are:

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

  • Enables HR to create and manage books & periodicals card orders with a provision of using custom configurations.

  • Enables employers to revoke unused amount of the card.

  • Enables employees to upload bills for reimbursements.

  • Enables employees view and analyze every transaction data and invoices. 

Key Benefits

Book & Periodicals card delivers the following benefits for employers:

  • Streamlines the overall reimbursement process digitally.

  • Provides provision for digitally verified and signed bills for approval.

  • Provides easy way of managing employees' accounts digitally.

  • Provides premium customer support.

Optima Driver Salary Card delivers the following benefits for employees:

  • Eliminates the need of manual bill submission and last minute hassle of collecting bills.

  • Eliminates the process of storing and

  • Provides a secure and easy way to use and redeem books & periodicals to save tax.

  • Provides premium customer support.

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