Form DPT-3 - meaning, due dates, procedure and FAQs

Form DPT-3 - meaning, due dates, procedure and FAQs

Meaning of DPT-3

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.

Companies NOT required filing the form DPT-3

There are certain companies which are not required to file the Form DPT–3. The list of the companies is as follows;

  • Banking companies;
  • Non-Banking Finance Companies (NBFC)
  • A housing finance company
  • Others as notified.
The above companies are not required to file because the new rule gets power from section 73, and the above exemptions are provided in section 73 itself.

Due date of filing the form DPT-3

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.

 As per the Companies (Acceptance of Deposits) Amendment Rules, 2019, all the companies have to compulsorily file the one-time deposit return in E-form DPT-3 within 90 days form the end Financial Year. While filing the return, the company has to give all the details about the outstanding receipt of money or debt which are not treated as deposits from 1 April 2014 to 31st March 2019.


Which Period Loans Must be Covered Under the Form DPT-3?

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.


Who is Applicable to File the DPT-3 Form?

  • According to the rule 16A, DPT-3 must be filed by all the companies who have received money and loan which is due.
  • The DPT-3 form must be filed by all the companies including small, private, non-small, OPC, etc.
  • Both secured, unsecured Loans along with advance for goods and services must be filed in the DPT-3 Form.
  • Even if the Holding Company or Subsidiary Company or Associate Company obtains the loan then it also has to file the DPT-3 Form
  • If the company has not paid the loan before 1st April 2014 which is still continuing then such loans have to be reported to the ROC under the DPT-3 Form.


Who is not Applicable to File the DPT-3 Form?

  • If the company does not have any loan till 22nd January 2019, then the filing of DPT-3 form is not required.
  • If the company takes a loan after 1 April 2019 or pays it before 22nd January 2019 and there is no record of an outstanding loan then the company does not have to file the DPT-3 Form.

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.


What are the documents required to file E Form DPT-3?

  1. Auditor’s certificate
  2. Latest Audited Balance Sheet

Procedure for filing the one-time DPT-3 form

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;

  • Choose the appropriate purpose of filing.  Select the first option in case you want to file the one-time DPT–3 form.
  • Choose your type of company; Public or Private.
  • Make sure you fill all the mandatory information.
  • You can skip all the non-mandatory information.
  • Attach the supporting documents like audited balance sheet and auditor’s certificate.

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.

 

Frequently Asked Questions (FAQs) on DPT-3

 

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


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