Mandatory Filing of Details of borrowings including borrowings in the nature of unsecured and secured Loan with ROC in form DPT-3 as prescribed under (Acceptance of Deposits) Amendment Rules, 2019
Who is required to file DPT-3?
By Companies (Acceptance of Deposits) Amendment Rules, 2019: Every Company other than Government Company shall file a onetime return of outstanding receipt of money or loan given to company but not considered as deposits starting from 01st April 2014 to 31st March 2019 in e-form DPT-3 on or before 30th of May 2019.
1. This form needs to be filed by all companies other than Government Companies.
2. DPT-3 needs to be filed for both secured and unsecured Loan.
3. Even this is applicable for ECB loan availed from foreign holders.
4. Outstanding amount up to 31.03.2019 to be disclosed.
5. Company is required to file e-form DPT-3 even for a loan received from Holding, Subsidiary, and Associate.
6. If some outstanding receipt of money or loan had become due before 01st April 2014, still continuing and outstanding in the record of Company, such outstanding loan amount is required to be reported to ROC in e-form DPT-3.
Transactions for which DPT-3 has to be filed?
Hence every company shall file form DPT -3 to ROC for the following transactions, if any, transacted by the Company:
1. particulars of unsecured loan received from directors or relative of directors.
2. particulars of advance received from customers.
3. particulars of any deposits in the nature of security deposits.
4. particulars of credit facilities obtained from banks and financial institutions.
5. particulars of any inter-corporate loans.
6. particulars of any unsecured loans received from shareholders.
What Attachments are Required with the Form?
Attachments Required with the Form:
Copy of trust deed – Mandatory if the company has a trust deed and details of same are mentioned in the form
Copy of instrument creating charge – Mandatory if the company has a trust deed and details of same are mentioned in the form
List of depositors – List of deposits matured, cheques issued but not yet cleared to be shown separately – Mandatory if the company has a balance of deposits outstanding at the end of the year
Details of liquid assets
Note: For further information below are the key highlights held on DPT 3 form filling by the ICSI.
KEY HIGHLIGHTS OF WEBINAR ON DPT-3
1. Form DPT-3 is exempted for Government Companies and NBFC Companies.
2. Nil Return is also Compulsory
3. Audit of Financials for FY 2018-19 is not compulsory for filing Form DPT-3
4. As per Rule 16 Figures filled in Form DPT-3 should be audited one for that Auditor Certificate may be obtained
5. Difference between One-time Return and Annual Return.
6. In One time Return, we need to fill the amount received after 01/04/2014 and outstanding on 31/03/2019 but in Annual return, date of receipt of the amount is not important, it covers every amount outstanding on 31/03/2019 whether received on or before 01/04/2014.
7. In One time return only amount outstanding is required to be filled, no detail for that amount is required but in annual return detail for the outstanding amount is required to be filled.
8. It is mandatory to bifurcate the amount of Deposit and amount exempted from Deposit in annual return, but in One time return, no such bifurcation is required.
9. One time return needs to be filed on or before 29th June, 2019 and annual return on or before 30th June.
10. Object clause in form will be pre-filled from the last AOC-4 or in case change in object activity from latest MGT-14 filed, So please check the same before filing the form if there is any difference then raise Query on MCA.
11. In point 8 of Form DPT-3, Net Worth should be calculated as per preceding audited statement for this time it will be Audited financial statement for the year ended on 31.03.2018.
12. Net Worth as per Form DPT-3 considers intangible assets but as per definition of Net Worth, Net Worth does not consider intangible assets, so there are chances that Net Worth filled in Form AOC-4 and in Form DPT-3 could be different, So Advisable to attach Clarification on that.
13. Auditor Certificate is not Compulsory but advisable to comply with the words of Rule 16 even in case of NIL Return.
14. Some important examples What is the deposit and what is Exempted.
15. Inter-corporate Deposit is Exempted one but Loan from LLP is not Exempted one it is Deposit.
16. Loan from Director’s Owned Fund is exempted but from the relative of Directors is not exempted.
17. Amount from HUF is also Deposit as HUF is not any Body Corporate.
18. Any Trade Advance for less than 365 days is Exempted one and Trade advance for more than 365 days is Deposit.
19. Share Application Money due for less than 60 days is Exempted one and for more than 60 days is Deposit.
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