What documentation is required to apply for challan discounting?

To apply for challan discounting, specific documentation is required to facilitate the process:

• Application form: A completed application provided by the financial institution.
• Challan copies: Original and photocopies of the challans for which discounting is requested.
• KYC documents: Proof of identity and address (e.g., PAN card, Aadhaar card, utility bill).
• Business registration: Certificate of incorporation or partnership deed.
• Financial statements: Recent balance sheets and profit & loss accounts to assess creditworthiness.

Providing accurate documentation helps expedite approval and ensures a smoother transaction process.