DPT-3 form is a one-time return form of loans that has to be filed by a company that has outstanding loans not treated as deposits.
According to the latest Ministry of Corporate Affairs (MCA) Amendments, it is mandatory for all the companies excluding the Government Companies to file a one time return for the outstanding receipts of money which are the loan of the company but are not considered deposits.
As per the rule, 16A, every company (other than Government Company) has to file a ONE TIME RETURN for transactions which are not considered as deposits. Hence, doesn’t matter if you are a small company or one person company, filing of DPT 3 form is mandatory.
There are certain companies which are not required to file the Form DPT–3. The list of the companies is as follows;
The due date for filing of form DPT–3 has been extended to 29th June 2019. However, it is advised to file the form well before it to avoid the high-pressure time.
All Outstanding receipt of Money or Loan by the company prevailed from 1st April 2014 up to 22nd January 2019 must be covered under the DPT-3 form.
Should Form DPT-3 be Filed if there is no Outstanding Loan?
No, the DPT-3 form must not be filed if there is no outstanding receipt of money or loan.
Given below is a table of Effect of Amendment to understand it clearly.
Relevant Amendment | Applicable to | Type of Return | Due Date |
---|---|---|---|
Explanation to rule 16 | Every company excluding Government Company | Return of deposit or particulars of the transactions not treated as a deposit or both | On or before 30th June of the previous year. |
Insertion of rule 16A (3) | Every company excluding Government Company | One time return of outstanding receipt of money or dept by a company which is not treated as deposits as per rule 2 (1) (c) | On or before 30th May 2019. |
Here is the procedure of filing the form DPT – 3 with the ministry of corporate affairs (MCA).
1. Ready the details
Keep the audited balance sheet of the company handy and the details of total amount outstanding on 31st March, 2019 which is received by the company but not recognized as deposits.
2. Download the form
In the first step, just go to mca.gov.in and download the form DPT – 3.
3. Prefill the details
Enter the CIN number of the company and Prefill all the basic details like name, address and email.
4. Fill the information as required
Fill all the required information correctly from the right resources to avoid any clerical or non-clerical error. Keep the following things in mind while filling the form DPT–3;
5. Sign the form DPT–3
After all the information has been filled, recheck the form and sign it with the digital signature.
6. Upload and done
After signing it with the digital signatures of the director, upload the form on mca.gov.in and the process is complete.
1. What is the cut-off date to enter the figures?
The cut-off date is 31.03.2019. Earlier, it was 22.01.2019 but after the amendment notification issued by the MCA dated 30.04.2019, the cut-off date has been revised to 31.03.2019 since the Form was not deployed earlier.
2. What is the penalty in case the Company doesn’t file the Form?
As per Rule 21 of the Companies (Acceptance of Deposits) Rules, 2014, if any Company has defaulted in compliance of any provision as mentioned in the Deposits Rules for which no punishment is provided in the Act, the company and every officer of the company who is in default shall be punishable with fine which may extend to five thousand rupees and where the contravention is a continuing one, with a further fine which may extend to five hundred rupees for every day after the first day during which the contravention continues.
We have tried to cover the details about DPT-3 form in as much as detail we can, in case you have any query or want any help related to filing of DPT-3 form do reach us and visit Taxaj