sql procedure for select and insert at same time

Question

Hi dear reader

thanks for devoting your precious time.

Here my question is 

 

i have a table tblChallanNumber

i want to write a store procedure such that 1st i select the last entered challan number and then add 1 to this and then insert incremented challan number at the same table.

and finally i want to select the new challanNumber to print .

 

and importantly i want to do the above all work in a singe store procedure.

 

thanks.