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In this editorial, author shall discuss the provision, applicability, Due Date, purpose, non-applicability etc of DPT-3.

-DPT-3 introduced by MCA on 22nd January 2019 by amendment in Deposit Rules.

-By these amended rules “One explanation added in Rule 16”

-Explanation: It is hereby clarified that Form DPT-3 shall be used for filing return of deposit or particulars not considered as deposit or both by every company other than Government Company

A. Rules for DPT-3:

DPT-3 required to file according to Rule 16 of Companies (Acceptance of Deposits) Amendment Rules, 2019.

B. Purpose of DPT-3

As this form introduced in 2019, the basic purpose of this forms are:

> To get information of Deposits received by the Company

> To get entity wise information of loan received by the Company

> To check compliance of Section 73 by Company

> To keep control over the Companies from acceptance of Loan, Deposits and Advance.

C. Applicability DPT-3:

e-form DPT-3 is applicable on all the Companies (Small, OPC, Non-Small, Public, Listed etc.) except the followings:

√ Banking Company.

√  Non-Banking Financial Company (NBFCs) registered with RBI.

√  Housing Finance Company (HFCs) registered with the National Housing Bank.

√  Government Company (in case of Exempted Deposit)

D. Check for DPT-3 Applicability:

To check whether e-form DPT-3 applicable on a company for a particular financial year or not, check the following condition:

√  Whether Company is having loan in Books as on 31st March

√  Whether Company is having any advance from customer in books as on 31st March

√  Whether Company is having any deposit in books as on 31st March

If any of the above condition is fulfilled by the Company. Such Company is required to file e-form DPT-3 for that financial year.

Que: If Company having loan only from Director as on 31 March in Books. Whether Company needs to file DPT-3

Ans: Any loan (Loan received from any person) if standing in books as on 31st March then Company needs to file e-form DPT-3. Even in case of Loan only from Directors company needs to file DPT-3.

Due Date:

The Due date of filing of DPT-3 is 30th June every year.

F. What is meaning of “Deposit or Particulars Not Considered as Deposit” as mentioned in explanation.

DEPOSIT: Whatever includes in definition of Deposit as per Companies Act and rules eg. Acceptance of loan from public, acceptance of loan from shareholders by public limited Company. 

PARTICULAR NON-CONSIDERED AS DEPOSIT: Whatever loan exempted under deposit rules and sections 73 shall be considered as particular of non-considered as deposit. Eg

  • Loan from Director is exempted Deposit. However, will be covered under this head.
  • Loan from shareholders in case of private Companies.
  • Loan from Body Corporates not considered as deposit. However, covered under above head etc.

Note:

After reading of above questions and explanation, one can opine that whether a company accepted loan from directors, body corporates or any other exempted deposit still shall require to file e-form DPT-3 on or before 30th June every year.

Author – CS Divesh Goyal, GOYAL DIVESH & ASSOCIATES Company Secretary in Practice from Delhi and can be contacted at csdiveshgoyal@gmail.com).

Author Bio

CS Divesh Goyal is Fellow Member of the Institute of Companies Secretaries and Practicing Company Secretary in Delhi and Steering Voice in the Corporate World. He is a competent professional having enrich post qualification experience of a decade with expertise in Corporate Law, FEMA, IBC, SEBI, View Full Profile

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2 Comments

  1. Prasad says:

    Yes…this is very true. Either this DPT-3 should withdraw or due date should be in Oct end, as most of the small entrepreneur facing such problems….Needs to put up this on high priority..

  2. professional says:

    This DPT-3 form is one of the money picking form. Ministry of Corporat Affairs may please withdraw this useless form for the interest of small companies. Small companies are very much affected for this DPT-3 Form. Because most of the Chartered Accountants are completing their accounts in ALL YEARS in the end of August month or in some cases during the month of September only. Before completing the accounts, how they can provide the result of DPT-3 on or before 30th June? So, this form is really a money picking form which creates injustice to the small & poor companies. Every year they are paying Rs.5000 fine for delayed filing of DPT-3 due to non-availability of Audited accounts within 30-June. MCA may please EXCLUDE this form for small companies for filing (or) extend the Due Date of DPT-3 as on 30-November in every year permanently. (i.e) 60 Days from the date of AGM.

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