The Optima asset card is a digital, simple and paperless solution that allows you easily and quickly process your gadget purchase claims.It can be used by corporates to reimburse their employees for gadget (laptops, computers and so on) purchase expenses. Employees can upload gadget purchase bills against their Zeta Gadget Card for spends on gadget purchase depending on company policy. The interface delivers a great deal of flexibility in overall asset purchase claim process that adapts to your organization policy. The program automates the time-consuming, manual, and traditional asset expense reimbursement process such as verification and storing of bills, submitting bill, and providing supporting invoices to process the claims.
Employee can view and use the Gadget Card on the Zeta Mobile App, which is available for Android, iOS and Windows phones.They can also use the Zeta web app for gadget purchases. They can even pay for gadget expenses using cash or card and later on upload bills from the Zeta Mobile app or Zeta web app to process the claim. Once the amount gets approved by HR or admin, employees get the reimbursement amount in their cash card.
The purchased gadget has to be in the employee’s name. Employers can choose to restrict purchase of gadgets from specific merchants (for both offline and online).
Install the Zeta app on your smartphone from app store. To download and configure Zeta app, see Setting up an Employee Account.
Useful Facts
Employees receive asset claims from employers when they submit billing proof towards asset purchase for office use only.
Ensure that the asset purchase bill gets generated in the name of your organization. This is mandatory to avail tax benefits.
Zeta recommends you to furnish KYC information using the Zeta app to upgrade your card limit and to avoid rejection of higher amount transaction as set by RBI while using the Optima prepaid card.
Per IT act, you can avail full income tax benefit on the purchase of electronic gadgets such as laptops and computers. Other movable gadget claims are taxable perquisites and you pay a tax of 10% of original cost of the asset.
- Any unclaimed amount in a fiscal year would be treated as a taxable income and you'll receive the leftover amount at the end of the financial year. Contact your HR for more details.
- If your asset bill exceeds the monthly limit (as per company rules), you will receive the exceeded claimed amount in the following or next months.
- You can pay for your asset purchase using the Zeta app or Zeta super card.
- You can make use of your cash card money if purchase amount is exceeding the asset card funds. In this case, you can claim tax benefits on asset card funds only.
You must upload supporting billing evidences and invoices against asset purchase claims in the Zeta App interface to avail tax benefits as per company and IT guidelines.
Before You Begin
Ensure the following:
You’ve received an Optima asset card from your HR. Note that your email ID must be verified to receive the asset credits if prepaid card is issued on your email ID.
You’ve appropriate balance in your asset card or cash card to initiate payment through Zeta platform and to avoid transaction declined error.
How Asset Card Flow Works?
The Zeta Asset card provides a simple workflow to claim your non-taxable electronic gadget purchase expenses. All you need to do is:
Receive a Zeta asset card from your HR
Pay your asset expenses to merchants using the Zeta app and Zeta Super Card
Upload the valid and legible bill of your purchase
Your claim would be processed in one to three business days after successful verification.
For a quick walk through, navigate to Cards > Asset Card, tap the Asset Card and then click User Guide. This opens up a quick reference guide or FAQs explaining the asset reimbursement facts.
Using the Zeta Asset Interface
The Optima digital asset card provides an intuitive interface that simplifies manual and complex asset purchase claim process into a convenient and smart solution, thus allowing employees to manage asset expenses electronically. That said, using the Zeta app you can buy approved assets at various e-commerce portals, upload the asset billing documents and invoices for approval, analyze the approved, declined or in review claims and so on. The important thing to remember is you (as a user or an employee) only upload the billing evidences using the Zeta app, thus eliminate the need of manually itemize the bills and invoices for future upload in the HR portal.
Do safeguard your asset billing documents for warranty or future auditing. Contact your HR for more details.
Under the Cards tab, your active asset card would appear as shown below:
Using the Optima asset interface, you can perform the following tasks:
Buy your electronic gadgets
Upload the asset bills
- View Transaction