DPT-3 is the sole form for filing return of deposits. It is a onetime return of outstanding receipts of money or loans taken by a company which has not been considered as deposits.
“Every company other than Government company shall file a onetime return of outstanding receipt of money or loan by a company but not considered as deposits, in terms of clause (c) of sub-rule 1 of rule 2 from the 01st April, 2014 to the date of publication of this notification in the Official Gazette, as specified in Form DPT-3 within ninety days from the date of said publication of this notification along with fee as provided in the Companies (Registration Offices and Fees) Rules, 2014.”
MCA vide its general circular 05/2019 dated 12th April, 2019, clarified that now Companies are required to file data with regard to exempted deposits upto 31st March, 2019 (as opposed to the publication of earlier notification date i.e 22nd January, 2019). Now, Companies are required to file data of exempted deposits for the period of 01stApril, 2014 to 31st March, 2019, within 30 days from the deployment of a new version of DPT-3. EForm has been deployed on May 1 so due date becomes May 30, 2019.
Law says, Every Company, be its small company, Public Company, Private Company, One Person Company shall file an e Form DPT-3 for a period from 1st April 2014 to the date of publication of this notification i.e. 22nd Jan, 2019. (Now 31.03.2019)
On 22nd January, 2019 MCA came up with a new sub-rule under Companies (Acceptance of Deposits), Rules, 2014 which says that every company (other than government company) shall file an onetime return of outstanding receipt of money or Loan by a Company but not considered as deposits and an explanation is added in Rule 16 of Companies (Acceptance of Deposits), Rules, 2014 in e form DPT-3 .
Let’s understand these provisions sequentially.
1. What does ‘Outstanding receipt of money or loan’ means?
Ans: Any loan treated as Deposit or not outstanding From 1st April, 2014 to 22nd January, 2019. (Now 31.03.2019)
2. Who shall file Form DPT-3?
Ans: Every Company other than Government Company has to file Form DPT-3.
3. Is there any exemption to this form to any company?
Ans: No, there is no exemption as such. Only government Companies are not required to file Form DPT-3.
4. What is the time limit to file the form?
Ans: The Form has to be filed within 90 days from the date of publication of said notification. The said notification was published on 22nd January 2019 and accordingly, we have to file the Form DPT-3 latest by 22nd April, 2019. Now it is 90 days from March 31, 2019
5. What period is to be covered for filing this return?
Ans: The period which is covered for filing this return is from 1st April, 2014 to 22nd Jan, 2019. (Now it is March 31, 2019)
6. What documents are required to be attached at the time of filing of form DPT 3?
Ans: Following are the documents required to be filed as an attachment:
Certificate of the Auditor
Proof of trust deed
An instrument creating a charge
Particulars of liquid assets if any
7. Are there any fees for filing the form?
Ans: Yes, fees shall be payable as per the Companies (Registration Offices and Fees) Rules, 2014.
8. What information is required to be furnished?
Ans: Every Company shall furnish onetime information about the outstanding receipt of money or loan by a Company but not considered as deposits. However, in case the Company has deposits then also the Company has to file Form DPT-3 providing requisite information about deposits by the end of June, 2019.
9. Whether information about the secured loan, unsecured loan, ECB, loans between holding and subsidiary is required to be furnished?
Ans: There is no specific exemption in the said notification regarding the above-referred loan, so, it can be concluded that information about each and every outstanding loan as on 22.01.2019 (Now 31.03.2019)is required to be furnished.
10. Do we need to finalize accounts as on 22.01.2019? now March 31
Ans: Though the notification does not say so, yet to correctly furnish the requisite information to ROC, it is advisable to finalize accounts as on 22.01.2019. (Now 31.03.2019)
11. Do NBFCs are required to file the form?
Ans: There is no specific exemption in the said notification to NBFC from furnishing information and accordingly, details about every outstanding money or loan in the accounts as on 22.01.2019 (Now 31.03.2019) of NBFCs are also required to furnish.
12. Loan/ money have been received before 01.04.2014 but it is still outstanding in the Balance Sheet. Do DPT-3 is to be filed?
Ans: Yes, information about any loan/money outstanding in the balance sheet of every Company except Government Company as on 22.01.2019 (Now 31.03.2019) is required to be furnished in Form DPT-3.
13. Loan/money has been received after 01.04.2014 and repaid before 22.01.2019 (Now 31.03.2019). Do DPT-3 is to be filed?
Ans: No, information only about the outstanding loan/money is required to be furnished.
14. If a company does not accept any loan or does not have any outstanding loan, then also company need to comply with the provisions of this rule?
Ans: If a company does not accept a loan or does not have any outstanding loan, there is no need to comply with the provisions of this rule.
15. What does ‘Particulars not considered as deposit’ means?
Ans: Loan exempted under deposit rules and section 73 shall be considered as particular of non-considered as a deposit. For example Loan from companies, Directors, Banks, Financial Institutions, Members etc. Thus every loan taken by the company is covered in Rule 16.
Explanation inserted under Rule 16 vide Companies (Acceptance of Deposits) Amendment Rules, 2019.
“It is hereby clarified that Form DPT-3 shall be used for filing return of deposit or particulars of the transaction not considered as a deposit or both by every company other than Government company.”
Every Company other than a Government Company shall file a Return of Deposit or Particulars of Transaction not considered as Deposit or both to furnish the information contained in its Audited financials as on 31st March, of the previous financial year.
Every Company, be its small company, Public Company, Private Company, One Person Company shall file an e Form DPT-3. Moreover, they must file it for a period from 1st April 2014 to the date of publication of this notification i.e. 22nd Jan, 2019. (Now 31.03.2019)
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