Form DPT-3 is the Return of Deposits, which is filed pursuant to Rule 16 of the Companies (Acceptance of Deposits) Rules. It states that every company to which such rule applies shall file on or before 30th Junery year, with the Registrar, a return of deposits or particulars of transactions which are not considered as deposits or both in Form DPT-3, alFormwith the payment of the fees which has been prescribed or is applicable for the filing of the same and also furnish the information as on the last date of the FY ending on 31st Ma31st Marchlevant previous year as audited.
According to Rule 16A, DPT-3 must be filed by all companies that have received money and loans that are due. The DPT-3 form must be filed by all companies, including small, private limited, and non-small companies, as well as OPCs. Both secured and unsecured loans, along with advances for goods and services, must be reported on the DPT-3 form, with respect to FY 2019-20, which ends on March 31. The due date for filing Form PT-3 shall be in the Form of June 2020.
What is a Deposit?
As per section 2(31) of the Companies Act, deposits include any receipt of money by way of:
- A deposit, or
- A loan, or
- In such other valid forms by a company.
It should also be noted that this does not include such categories of amounts as may be prescribed in consultation with the Reserve Bank of India (RBI).
Who should file DPT-33?
The Ministry of Corporate Affairs (MCA) has made it mandatory for all the companies registered in India to file Form DPT-3, nd this Form includes a Private Limited Company
– Public Limited Company
– One Person Company (OPC)
– Small Company.
The following companies are not required to file Form DPT-3 or are exempt from the same:
– Government Company
– Banking Company
– Non-Banking Financial Corporations (NBFC)
– A Housing Finance Company, which is formed as per the National Housing Bank
– A company that has NIL outstanding deposits/loans/amount not considered as deposits as of 31st Mar31, the relevant financial year
– Any other company as it has been given or specified under the proviso to section 73(1) of the Companies Act.
Aim of Form DPT-3
The primary objective of introducing Form3 was to provide a return for forming, which would disclose or enable the company to declare reports considered as deposits and receipts not considered as deposits, in accordance with the provisions of the law or the Companies Act 2013. It shall be filed in two ways and include
– Time Return
– Annual Return.
The one-time return must be filed for a period that starts on 1Apr1 April and ends on 3M3 March. A report about all receipts that are not considered deposits but were received during this period and are outstanding as of 3the 1st Marc1 March 1, 2013. At the same time, the annual return is the period that starts from April 1, 2020, and ends on March 311,2021,2, including all amounts outstanding as of that date.
Transactions that are not Considered Deposits
- Any amount received from the government or guaranteed by the government, a foreign government, or a foreign bank.
- Any amount received as a loan or facility from any Public Financial Institution, Insurance Company, or Bank.
iii. Any amount received from a company by another company.
- Subscription to securities and the call-in advance amount received.
- Any amount received from the director of the company or a relative of the director of the Private company who was holding such position at the time of lending.
- Any amount received by the company from an employee not exceeding his annual salary under the employment contract, such as a non-interest-bearing security deposit.
vii. Any monetary payment or such other amount received in the course of, or for the requirement of, the business of the company as an advance payment for the sale of goods or provision of services or for performing the contract, for the supply of goods or provision of services, in the Form of a security deposit.
viii. Receipt of Rs Formakh or more by a start-up company in the Form of a convertible note in a single tranche (Formp of securities).
- The amount raised by issuing secured bonds or debentures with first charge or non-convertible debentures does not have a charge on the assets of the company.
- Unsecured loans received from promoters.
- Any monetary payment or such amount received by the company from either a Nidhi Company or by a manner of subscription in respect of a chit which was made under the Chit Funds Act, 1982.
xii. Any amount received by the company from a collective investment scheme, alternate investment funds, or mutual funds registered with SEBI.
xiii. Any other amount which is not considered a deposit under Rule 2(1)(c).
Information to be Furnished in Form DPT-3
The following details shall be furnished by a company in the Form DPT-3:
– CIN of the company
– Email ID
– Of the company
– Net worth of the company
– Particulars related to the creation charge (if any)
– The total amount outstanding as of 33 March 31, 2020
– Partic31st March, the credit rating.
Documents Required for Form DPT 3 Submission
The following documents shall be submitted with the MCA while filing Form DPT-3:
- Auditor’s Certificate
- Copy of the Trust deed
- AFormd w, here applicable or provided in the Form, gives the contract of Deposit Insurance.
- Copy from the instrument creating the charge.
- List of depositors – List of deposits matured and cheques issued but not yet cleared to be shown separately
- Details of liquid assets
- Other optional attachments are specified in the DPT-3 form.
How to File Form DDPT-3
The filing procedure for the DPT-3 is as follows:
- Collect the necessary documents.
- Visit the MCA website.
- Complete the E-FORMDPT-33.
- Fill out the application.
- Obtain confirmation from the MCA.
The Due Date for Filing Form-3
The due date for filing the Form DPT-3 is June 30 of every year. For example, for FY 2019-20, the due date for DPT-3 is June 30, 2020.
Consequences Non-Filing of Form DPT-3
If the company fails to file Form DPT-3 with the MCA and is accepting deposits contrary to the same, then the following consequences shall arise under the Companies Act:
- As per Section 73, a penalty of a minimum of INR 1 crore or twice the total amount of deposits, whichever is lower, which may extend to INR 10 crore, shall be levied.
- For every officer who is in default, imprisonment up to 7 years and a fine not less than INR 25 Lakhs, which may extend to INR 2 crores, shall apply.
- And about the relevant Rule 21, on the company and every officer in default, there shall be a levy of a fine which may extend up to INR 5,000, and this shall be applied, and where the contravention is a continuing one, a fine of INR 500 for every day since the default shall also be levied.
