The companies always plan and carry the financial transactions in many ways and accordingly availed the deposits, loans and advances from directors, Shareholders or various public Financial Instituitons. MCA has introduced the E-form DPT-3 with an intention to report the complete details of Exempted Deposits i.e, Loans or advances taken by the company from various other sources.
Every company to which the Companies (Acceptance of deposit) Rules, 2014 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
|Applicability||All Companies except the following-
1. Government Company
2. A banking company;
3. A non-banking financial company as defined in the Reserve Bank of India Act, 1934 (2 of 1934) registered with the Reserve Bank of India;
4. A housing finance company registered with the National Housing Bank established under the National Housing Bank Act, 1987 (53 of 1987); and
5. Any other company specified by the Central Government under the proviso to sub-section (1) of Section 73 of the Act.
|Meaning of Deposit||“Deposit” includes any receipt of money by way of deposits or loan or in any other form by a Company but does not include such categories of amount as may be prescribed in consultation with the Reserve Bank of India.|
|Exempted Deposits||Any amount of Loans or advances received by the company from Directors, Shareholders, Promoters or Banks and Financial Institutions as per Section 2 (1) (c) of the Companies (Acceptance of Deposits) Rules, 2014|
|What is Form DPT 3?||As per Section 2 (1) (c) of the Companies (Acceptance of Deposits) Rules, 2014, Every Company shall give details of outstanding receipt of money or loan by a company but not considered as deposits in an E-Form DPT-3 before March 31, 2021.|
|Networth of the company||
|Details Required||Amount of the outstanding receipt of money or loan by a company with under respective heads from 01st April___ to 31st March ____in the respective year-
|Reporting period||01.04.20__ to 31.03.20__|
|Due date for filing||Within 90 days from the closure of the financial year ending 31st March i.e., 30th June___ every year
|Mandatory Attachment||Auditor Certificate certifying the monies received by the companies.|
|NIL Return||Not Mandatory
Filing of an E-Form DPT-3 for NIL return is at the discretion of the Company
|Reference Document||Provisional Financial statements or Audited Financial Statements as on 31st March 2021|
|Additional Fees, if form filed after due date||
|Penalty in case of non-filing of Form DPT 3||If Company fails to file the form the Company and every officer of the Company 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|
Conclusion – Due to Pandemic COVID-19, relaxation from MCA to file the form DPT-3 is permitted as per their respective notifications or circulars.
This article is authored by Mrs. Asha Diwakar (Practicing Company Secretary, Bangalore) and co-authored by Priyanka Sethia, who are Co-founders of M/s CLAAT Corporate Advisors LLP (Chhota CFO).
Chhota CFO (www.chhotacfo.com) offers a range of services and integrated solutions in the areas of India corporate regulations, compliance, accounting and taxation for Start-ups, SMEs and Corporates – right from incorporating new companies, statutory registrations, secretarial compliance, bookkeeping and accounting, tax consulting & filing, audit & assurance and other associated professional services to start, maintain and grow your business.
They may be contacted at [email protected] and +91 973 973 6999/ +91 991 666 8146.