Optima Books & Periodicals is a digital card designed to help organizations to get tax exemption on books & periodicals expense.
HR needs to load currency into the employee’s Books & Periodicals card prior to issue the card to employees. An employee can redeem the balance of their the card against books & periodicals expense to save income tax. Limit of reimbursement for driver salary varies with the different organization.
This benefit is extended by an employer to an employee for purchasing newspapers, books and periodicals which are related to and/or aid in the profession of the employee. Therefore employee can purchase the aforementioned goods and submit bills for reimbursement. Zeta Books & Periodicals Benefits follows the reimbursement model.
It is mandatory for the employee to submit the bills as evidence. Generally, it is fully exempted from income tax on actuals. However, organisations can cap monthly or fiscal limits for their employees.
The entire program can be customized to suit your company's policy.
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.