The Ministry of Corporate Affair vide its notification dated January 22, 2019 had directed to all the Company, except government company, to file:

– a one-time return in e-Form DPT-3, by furnishing the details of all outstanding receipt of money or loan taken from April 01, 2014 to March 31, 2019, which is not considered as deposit i.e. exempted deposit, as per rule 2 (1) (c) of the Companies (Acceptance of Deposits) Rules, 2014, (hereinafter called as “One time return of exempted deposit”) and

– a return on annual basis in e-Form DPT-3, by furnishing the details of receipt of money or loan by a company but not considered as deposits i.e. exempted deposit, at the end of financial year, as per rule 2 (1) (c) of the Companies (Acceptance of Deposits) Rules, 2014 (hereinafter called as “Yearly return of exempted deposit”),

Before January 22, 2019, only the company, who accept the deposits was required to file a return of deposit in e-Form DPT-3 by furnishing the details of deposits.

Given below are the FAQs on ‘one time return of exempted deposit’ and ‘yearly return of exempted deposit’:

1. What are the purposes/objects of filing of e-Form DPT-3:

  • Onetime Return: To give the details of all outstanding receipt of money or loan taken from April 01, 2014 to March 31, 2019, which is not considered as deposit i.e. exempted deposit, as per rule 2 (1) (c) of the Companies (Acceptance of Deposits) Rules, 2014;
  • Yearly return for the:

(a) the details of receipt of money or loan by a company but not considered as deposits i.e. exempted deposit, at the end of financial year, as per rule 2 (1) (c) of the Companies (Acceptance of Deposits) Rules, 2014;

(b) return of deposit;

2. What are the information’s to be furnished in one time return of exempted deposits:

The total outstanding amount or loan received by a Company from the 01st April, 2014 to 31st March 2019 which is not considered as deposit in terms of the rule 2 (1) (c) of the Companies (Acceptance of Deposits) Rules, 2014.

In simple terms, the total outstanding amount of exempted deposit as on March 31, 2019 is need to furnish in one-time return. Further, the said outstanding amount of exempted deposit should related to the period of 01st April, 2014 to 31st March 2019.

3. What are the information’s to be furnished in yearly return of exempted deposit i.e. a return for the particulars of transactions by a company not considered as deposit, at the end of financial year, as per rule 2 (1) (c) of the Companies (Acceptance of Deposit) Rules, 2014:

The particulars of receipt of money or loan by a company but not considered as deposits i.e. exempted deposit, at the end of financial year, in terms of clause (c) of sub-rule 1 of rule 2 of the Companies (Acceptance of Deposits) Rules, 2014 is need to furnish in yearly return of exempted deposit.

In simple terms, the total outstanding amount of exempted deposit at the end of financial year is need to furnish in yearly return. Further, 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.

4. What are the information’s to be furnished in yearly return of deposit:

This return is mandatory if the Company has accepted the deposit. Here, the particulars of the deposit’s i.e. amount of existing deposit in the beginning of the year, deposit renewed during the year, deposit accepted during the year and the deposit paid during the year etc. is need to furnish in yearly return of deposit.

The outstanding amount shall also include the interest on it, if any.

5. What are the basic differences in one time return of exempted deposit, yearly return of exempted deposit and return of deposit:

Particulars One time return of exempted deposit Yearly return of exempted deposit Return of Deposit
Requirement of filing Once Every year Every year, if the Company has accepted the deposits.
Due date of filing June 29, 2019 June 30 of every year June 30 of every year
Information to be furnished The details of outstanding amount of exempted deposit as on March 31, 2019 taken from April 01, 2014 to March 31, 2019 The details of outstanding exempted deposit as on March 31 of that financial year for which is being filed taken at any time period. The details of deposit accepted by the Company
Mandatory attachment Statutory Auditor certificate

Although, there is no mandatory attachments for filing of one time return as well as the yearly return of exempted deposits however, it is recommended to obtain the Statutory Auditor Certificate as a back-up documents for the internal record of the Company for both the returns.

6. What is rule 2 (1) (c) of the Companies (Acceptance of Deposit) Rules, 2014:

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.

Given below is the list of transactions which shall not be covered as deposits or exempted deposits:

a) Any amount received from –

i. the Central Government; or

ii. a State Government; or any amount received from any other source whose repayment is guaranteed by the Central Government or State Government; or

iii. any amount received from a local authority; or

iv. any amount received from statutory authority constituted under an Act of Parliament or a State Legislature.

b) Any amount received from –

i. Foreign Governments; or

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 or;

x. Persons residents outside India subject to the provisions of Foreign Exchange Management Act, 1999 (42 of 1999).

c) Any amount received as –

i. A loan or facility from any banking company; or

ii. From the state Bank of India or any of its subsidiary banks; or

iii. From a banking institution notified by the Central Government under section 51 of the Banking Regulation Act, 1949 (10 of 1949); or

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); or

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).

d) Any amount received as loan or financial assistance from –

i. Public Financial Institutions notified by the Central Government; or

ii. Any regional financial institutions; or

iii. Insurance companies; or

iv. Scheduled Banks as defined in the Reserve Bank of India Act,1934 (2 of 1934).

e) 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.

f) Any amount received by the company from any other company.

g) 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 money or advance towards allotment of securities pending allotment, so long as such amount is appropriated only against the amount due on allotment of securities applied for.

h) 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.

i) (a) 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; or (b) bonds or debentures compulsorily convertible into shares of the company within ten years.

j) 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.

k) 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.

l) Any non-interest-bearing amount received and held in trust.

m) 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.

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 sub rule (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.

vii. As an advance for subscription towards publication, whether in print or electronic to be adjusted against receipt of such publications.

n) 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.

o) Any amount received by a Nidhi company in accordance with the rules made under section 406 of the Act.

p) Any amount received by way of subscription in respect of chit under the Chit Funds Act, 1982(4 of 1982).

q) Any amount received by company under any collective Investment scheme in compliance with regulations framed by the Securities and Exchange Board of India.

r) Any amount of twenty-five lakh rupees or more received by a start-up 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.

s) 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.

7. Which Companies are required to file the e-Form DPT-3?

Every Company is required to filed the e-Form DPT-3, except the following:

  • Government Company;
  • Non-banking and finance company; and
  • Banking Company,

8. What is the due date for the filing of e-Form DPT?

  • One-time return: June 29, 2019 i.e. 90 (ninety) days from March 31, 2019;
  • Yearly return: June 30 of that year for which the information is to be furnished.

9. What is the meaning of latest audited balance sheet preceding the date of the return for the purpose of Net Worth?

If the accounts of the financial year for which the return is being filed is audited than the information for the purpose of net worth shall be inserted as per the audited balance sheet of that year only, and if the accounts of that financial year for which the return is being filed is not audited, than as per the preceding year audited balance sheet of the Company.

10. Whether the Nil return is required to file or not?

No, the nil return is not required to file.

11. Whether share application money received by the Company is required to report in one time return or annual return of exempted deposit?

If the share application money is allotted or refunded by the Company within time prescribed under the Companies Act, 2013 then it is not required to report in one time return or annual return of exempted deposits.

12. Who can digitally sign the e-Form DPT-3?

Any of Director, Manager, Secretary, CEO or CFO of the Company whose signature is registered on the MCA Portal may digitally sign the e-Form DPT-3.

13. What is the statutory fee/ROC fee of the filing of e-form DPT-3?

Where nominal share capital is Normal Fee
Less than 1,00,000 INR 200
1,00,000 to 4,99,999 INR 300
5,00,000 to 24,99,999 INR 400
25,00,000 to 99,99,999 INR 500
1,00,00,000 or more INR 600

14. What is the late fee/additional fee of the filing of e-Form DPT-3 if the same was not filed with in time?

Period of delays Late fee/Additional fee
Up to 30 days 2 times of normal fees
More than 30 days and up to 60 days 4 times of normal fees
More than 60 days and up to 90 days 6 times of normal fees
More than 90 days and up to 180 days 10 times of normal fees
More than 180 days 12 times of normal fees

Disclaimer: The entire contents of this article have been prepared on the basis of relevant provisions and as per the information existing at the time of the preparation. All Readers are advised to refer relevant provision of law before applying or accepting any of the point mentioned above or not. Author 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.

The author is Company Secretary in Wholetime Practice and reached at csparveenchoudhary@gmail.com, Cell No. +91 9716672473.

Author Bio

Qualification: CS
Company: HJA & Associates LLP
Location: New Delhi, New Delhi, IN
Member Since: 01 May 2019 | Total Posts: 2

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12 Comments

  1. Kunjan Mendake says:

    IF the company has loans from the directors only in year 2018-2019, do we need to fill one time and annual return (because the amount will be same)?

  2. klsalawat says:

    we strongly request and suggest that it is hardship on business and profession to issue new forms at every time and hares in increase hardship on business .
    there is provision of annual return in that column may increase or in advance give ideas of such form and than made it applicable after aresanable oppurtunity.

  3. sonam says:

    After reading the above article and provision given there in, I have one question – Does the Company required to file DPT -3 in case of Loan from Director?

  4. nadeer says:

    sir,
    in one time return under clause h need to disclose the amount received from directors from 1.april 2014 and outstanding till march 31.2019
    is we need to club the interest if any on account of such loan to such amount while furnishing in DPT-3
    2. Is that it make any difference whether its Annual return

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