DPT-3 CHECKLIST / FAQ / LATEST PROVISIONS
LEGAL PROVISIONS:
E-Form DPT-3 is required to be filed pursuant to rule 16 and 16A of the of the Companies (Acceptance of Deposits) Rules, 2014
Rule 16: Return of deposits to be filed with the Registrar:
Every company other than Government company to which these rules apply, shall on or before the 30th day of June, of every year, file with the Registrar, a return in Form DPT-3 along with the fee as provided in Companies (Registration Offices and Fees) Rules, 2014 and furnish the information contained therein as on the 31st day of March of that year duly audited by the auditor of the company.
Form DPT-3 shall be used for filing return of deposit or particulars of transaction not considered as deposit or both by every company other than Government Company.
Rule 16(A) (3):
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 31st March 2019, as specified in Form DPT-3 within ninety days from 31st March 2019 along with fee as provided in the Companies (Registration Offices and Fees) Rules, 2014]
The E-form has been designed to report following 4 scenarios:-
- Onetime Return for disclosure of details of outstanding money or loan received by a company but not considered as deposits in terms of rule 2(1)(c) of the Companies (Acceptance of Deposits) Rules, 2014
- Return of Deposit
- Particulars of transactions by a company not considered as deposit as per rule 2 (1) (c) of the Companies (Acceptance of Deposit) Rules, 2014
- Return of Deposit and Particulars of transactions by a company not considered as deposit
We will be discussing in this Article- filing of DPT-3 in the 3rd scenario (i.e. Particulars of transactions by a company not considered as deposit as per rule 2 (1) (c) of the Companies (Acceptance of Deposit) Rules, 2014) as it is the most common scenario:-
Once the 3rd option is selected in the form Point no. 9 to 12 and 14 becomes irrelevant (as pertaining to Deposit Accepting companies) and disappears in the form.
INFORMATION REQUIRED:-
To enable a person to prepare this form, it is advisable to get the following data as on financial year end date for which the DPT-3 return is being filed, prepared by the Accounts team in an excel sheet and vetted by the Auditors:-
| S. No | PARTICULARS: | AMOUNT AS ON (31.03.2022) | AMOUNT AS ON (31.03.2021) |
| 1 | Any amount received from – | ||
| (i) | the Central Government | ||
| (ii) | a State Government; or any amount received from any other source whose repayment is guaranteed by the Central Government or State Government | ||
| (iii) | any amount received from a local authority | ||
| (iv) | any amount received from statutory authority constituted under an Act of Parliament or a State Legislature | ||
| 2 | Any amount received from – | ||
| (i) | Foreign Governments | ||
| (ii) | Foreign or international banks | ||
| (iii) | Multilateral financial institutions | ||
| (iv) | Foreign Governments owned development financial institutions | ||
| (v) | Foreign export credit agencies | ||
| (vi) | Foreign collaborators | ||
| (vii) | Foreign body corporates | – | – |
| (viii) | Foreign citizens | ||
| (ix) | Foreign authorities | ||
| (x) | Persons residents outside India subject to the provisions of Foreign Exchange Management Act, 1999 (42 of 1999 | ||
| 3 | Any amount received as – | ||
| (i) | A loan or facility from any banking company | ||
| (ii) | From the state Bank of India or any of its subsidiary banks | ||
| (iii) | From a banking institution notified by the Central Government under section 51 of the Banking Regulation Act, 1949 (10 of 1949) | ||
| (iv) | A corresponding new bank as defined in clause (d) of section 2 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980) | ||
| (v) | From a cooperative bank as defined in clause (b-ii) of section 2 of the Reserve Bank of India Act, 1934 (2 of 1934). | ||
| 4 | Any amount received as loan or financial assistance from – | ||
| (i) | Public Financial Institutions notified by the Central Government | ||
| (ii) | Any regional financial institutions | ||
| (iii) | Insurance companies | ||
| (iv) | Scheduled Banks as defined in the Reserve Bank of India Act,1934 (2 of 1934) | ||
| 5 | Any amount received against issue of commercial paper or any other instruments issued in accordance with the guidelines or notification issued by the Reserve Bank of India. | ||
| 6 | Any amount received by the company from any other company | ||
| 7 | Any amount received and held pursuant to an offer made in accordance with the provisions of the Act towards subscription to any securities including share application securities pending allotment, so long as such amount is appropriated only money or advance towards allotment of against the amount due on allotment of securities applied for | ||
| 8 | Any amount received from a person who, at the time of the receipt of the amount, was a director of the company or the relative of the director of a private company | ||
| 9(i) | Any amount raised by the issue of bonds or debentures secured by a first charge or a charge ranking pari passu with the first charge on any assets referred to in Schedule III of the Act excluding intangible assets of the company | ||
| (ii) | bonds or debentures compulsorily convertible into shares of the company within ten years | ||
| 10 | Any amount raised by the issue of non-convertible debentures not constituting a charge on the assets of the company and listed on recognized stock exchange as per applicable regulations made by Securities and Exchange Board of India | ||
| 11 | Any amount received from an employee of the company not exceeding his annual salary under a contract of employment with the company in the nature of non-interest bearing security deposit. |
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| 12 | Any non-interest bearing amount received and held in trust. | ||
| 13 | Any amount received in course of, or for the purposes of the business of the company- | ||
| (i) | As an advance for supply of goods or provision of services accounted for in any manner whatsoever provided that such advance is appropriated against supply of goods or provision of services within a period of three hundred and sixty-five days from the date of acceptance of such advance. |
– | – |
| (ii) | As advance accounted for in any manner whatsoever, received in connection with consideration for immovable property under an agreement or arrangement, provided that such advance is adjusted against such property in accordance with the terms of agreement or arrangement |
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| (iii) | As security deposit for performance of the contract of supply of goods or provision of services | ||
| (iv) | As advance received under long term projects for supply of capital goods except those covered under item (b) of sub-clause (xii) clause (c) of subrule (1) of rule (2) of the Companies (Acceptance of Deposits) Rules, 2014 | ||
| (v) | As an advance towards consideration for providing future services in the form of a warranty or maintenance contract as per written agreement, if the period for providing such services does not exceed the period prevalent as per common business practice or five years, from the date of acceptance of such service whichever is less. | ||
| (vi) | As advance received and allowed by any sectoral regulator or in accordance with directions of Central or State Government. |
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| (vii) | As an advance for subscription towards publication, whether in print or electronic to be adjusted against receipt of such publications. | ||
| 14 | Any amount brought in by promoters of the company by way of unsecured loans in pursuance of the stipulation of any lending financial institution or a bank. |
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| 15 | Any amount received by a Nidhi company in accordance with the rules made under section 406 of the Act |
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| 16 | Any amount received by way of subscription in respect of chit under the Chit Funds Act, 1982(4 of 1982) |
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| 17 | Any amount received by company under any collective Investment scheme in compliance with regulations framed by the Securities and Exchange Board of India |
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| 18 | Any amount of twenty-five lakh rupees or more received by a startup company, by way of convertible note (convertible into equity shares or repayable within a period not exceeding five years from the date of issue) in a single tranche, from a person |
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| 19 | Any amount received by a company from – | ||
| (i) | Alternate Investment Funds | ||
| (ii) | Domestic venture Capital Funds | ||
| (iii) | Infrastructure Investments Trusts | ||
| (iv) | Real Estate Investment Trusts | ||
| (v) | Mutual Funds registered with the Securities and Exchange Board of India | ||
| 20 | Loan from Share Holder | ||
| 21 | Loan from any other entity mentioned above. | ||
| Total | |||
In addition to above, one has to compile and provide details of CIN, email ID, Objects of the company, Net worth of the company, particulars of charge if any, the total amount outstanding as on year end i.e. 31st March, and particulars of credit rating.
IMPORTANT POINTS IN FILING DPT-3 (OPTION -3)
- Exempted deposits: Deposit includes any receipt of money by way of deposit or loan or in any form except the transaction excluded under this rule. Therefore, rule 2 (1) (c) define the transaction(s) which shall not be considered as deposit i.e. exempted deposit, and the transactions which are not covered in rule 2 (1) (c) shall be considered as deposit of the Company. The list is compiled hereinabove.
- The total outstanding amount of exempted deposit at the end of financial year need to furnish in yearly return.
- The said outstanding amount of exempted deposit can be related to any of the period.
- The outstanding amount shall also include the interest on it, if any.
- Point No. 8 of the DPT-3 requires the company to enter Net Worth as per the latest audited balance sheet preceding the date of the return. If for any reason no audited accounts are available for the previous year (e.g New Company- filing for first f.y), then filing the form with unaudited figures would suffice the purpose. In such a case it is advisable to attach a clarification letter regarding usage of unaudited/provisional figures along with the reason, on the letter head of the Company duly signed by a director.
- DPT-3 is a non-STP form, which means that it needs approval of the ROC
Auditor’s Certificate:
Statutory Auditor’s Certificate is required to be attached with the form only in the case when a return of deposits is filed (Option no. 2 and 4 is selected in the e-form DPT-3) i.e., the purpose of filing the form is either of the two:
- Return of Deposit
- Return of Deposit and Particulars of transactions by a company not considered as deposit
However, as a prudent practice the figures submitted in DPT-3 needs to be verified by a professional including auditor of the Company.
Exemption:-
Every Company is required to file Form DPT-3, except:
- Government Company
- Banking Company
- NBFC
- Housing Finance Company
DISCLAIMER: This Article is designed to provide information of a general nature and is not intended as a substitute for professional consultation and advice in a particular matter. The opinions and interpretations expressed within are those of the author only and may not reflect those of other identified parties. The results & interpretation have been done on the basis of relevant provisions and as per the information existing at the time of the preparation of this Article. The Author explicitly disclaim any financial or other liability of any kind arising on account of any action taken pursuant to the results or interpretation of this Article and accepts no responsibility whatsoever and will not be liable for any losses, claims or damages which may arise because of the contents of this write up.
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