What is different between demand draft and challan?
Answers
Answered by
4
Chalan is a form that is submitted with any payment cheque in lieu of tax or levy to be deposited in bank for government deptt whereas draft is a guaranteed payment cheque issued by bank, payable to one as mentioned on draft.
Answered by
1
The difference is mentioned as follows
Challan is a non-negotiable invoice while demand draft is a negotiable document.
Challan is issued by the government or its officials.
It is used as a receipt for the payment which means on receiving a challan you have to pay the amount mentioned.
It can be in electronic format as well.
The demand draft is issued by the bank.
It is used by person or institute to draw the amount out of the person's account who submitted it.
It is similar to a cheque but safer than it.
Similar questions