Both the financial instruments are a secure mode of payment to third party. Many schools and colleges prefer these instruments than cheques as there is no possibility of bouncing of the same. This completely eliminates the need to visit the bank branch. It is important to note that you have to visit the bank branch to make a demand draft or a pay order. This is unless you have door banking facility where the demand draft will be delivered to your door step.
In any case, you can choose either of the two, depending on where you reside. If you need to make payment to a different state, you choose demand draft, if payment is within the city opt for a payorder. These days there are not many individuals who use these mechanisms.
They are more costlier than the online route. There are certain cases where banks do not charge for demand draft, but that is pretty restricted. However, many institutions may still insist on a demand draft, which is when you might have to deliver one these. This in particular is used for payment at colleges and in some schools. For Quick Alerts. The receipted challans in case of cash tender are generally handed over to the remitter immediately across the counter.
In all such cases, a paper token is issued to the depositor indicating the date on which the receipted challan will be ready for delivery. The receipted challan will have to be collected within a specified number of days from the date of delivery, as indicated on the paper token, by surrendering the paper token.
In case of loss of original token, on a specific request and on payment of prescribed fees, the receipted challan is issued. No duplicate challan is issued under any circumstances. Instead, a 'Certificate of Credit' is issued on specific request with the requisite particulars and payment of prescribed fee.
Such remuneration is called Agency Commission. The rates of agency commission applicable at present from July 1, are as under:. The Reserve Bank of India is the aggregator for accounting of all GST collections in the respective government accounts. No, it will be considered sufficient proof if you quote your Challan Identification Number CIN as mentioned in your counter-foil in your return.
The Income-tax return forms are being suitably modified. Kindly approach the bank where you have deposited the tax and request them to issue you a certificate which contains your payment particulars including CIN as explained in reply to question No. Each bank follows it's own procedure so you may contact the branch manager of the bank.
Will the bank refuse to take my payment? But it is in your interest to deposit the Challan with PAN to avoid inconvenience later. However, you may deposit taxes but ensure that you write your full name without initials and your full address in the relevant place in the challan.
ITNS ? If it is not possible to do so, leave the column blank but write your full name and address in the Challan form. I am an individual and have to pay self assessment tax income tax before filing my return of income.
Which Challan should I use? As you are paying self assessment tax, you should further tick the [a] Self Assessment Tax under Type of Payment. We are a corporate and have to pay Advance Tax for Assessment Year Which Challan should we use? As you are paying Advance tax for the Assessment year , write this in the space provided in the Challan and then tick the box [a] Advance Tax under Type of Payment.
We are a partnership firm and have to deposit tax deducted from a corporate. We are a company XYZ Ltd and have deducted tax source for both companies and non companies on "Interest other than interest on securities".
Which Challan should we use to deposit the tax? You will have to use two separate challans. You should use Challan No. You should use a separate Challan No. The code 94A will have to be filled up under 'Nature of Payment'. These codes are mentioned behind the challan.
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