Challan

What is a Challan?

A challan or bank challan is defined as an official document, form, or piece of paper used to credit money from one account to another. It is almost similar to the deposit slip available in the bank with which you can deposit money into someone’s account in cash. However, in the deposit slip you need to enter the recipient’s data and details while in the bank challan, they are already pre-filled.

The challan is generated by the merchant who already has the data of the recipient and the amount to be paid. You can also make use of an E-challan. E-challan can be used as an electronic format of challan. An E-challan is a specific format used to deposit or make a statutory contribution or payment to a bank.

Also, See: Appraisal