BACKGROUND:

As per the Companies (Acceptance of Deposits) Amendment Rules, 2019 new amendments have been brought in The Companies (Acceptance of Deposits) Rules, 2014.

Rule 16 of The Companies (Acceptance of Deposits) Rules, 2014 prescribes about the Return of Deposits to be filed with the Registrar. A new Explanation has been added via this amendment. It says

It is hereby clarified that 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.”

This means that every company other than Government Company needs to file DPT-3.

One more amendment has been made in the Rule 16A of The Companies (Acceptance of Deposits) Rules, 2014. Clause 3 of the Rule16A says:

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 the date of publication of this notification in the Official Gazette, as specified in Form DPT-3 within ninety days from the date of said publication of this notification along with fee as provided in the Companies (Registration Offices and Fees) Rules, 2014”

With regarding to the above mentioned amendments a new DPT-3 form has been substituted.

Applicability:

DPT-3 is applicable on:

1. Private Limited Companies

2. Public Limited Companies

3. One Person Company (OPC)

Not applicable on:

1. Government Companies

2. The company not accepting any loan or does not have any outstanding loan.

Points to be covered:

1. 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: This is as per the new insertion of Rule16A(3) of The Companies (Acceptance of Deposits) Rules, 2014.

2. Return of deposit or Return for disclosures of 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 or both: This is as per the explanation added to Rule16 of The Companies (acceptance of Deposits) Rules,2014.

3. Return of deposit

Loans to be taken care of:

  • All the outstanding receipt of money or loan from the period of 1st April 2014 to 22nd January 2019 will be covered under this electronic Form DPT-3.
  • In case any loan is due before 1st April 2014 and is still outstanding in the records of the company. Then report to ROC in e-form DPT-3.
  • In case of a company has already repaid loans before or on 22nd January 2018, then such a loan is no longer outstanding. As a result, no need to file e-form DPT-3

In short:

Amendment Type of Return Due Date
Explanation to Rule 16 Return of deposit or particulars of the transactions not considered as a deposit or both On or before 30th June of the preceding year
Insertion of Rule 16A (3) One time return of outstanding receipt of  money or loan by a company which is  not considered as deposits as per rule 2 (1) (c) On or before 22nd April 2019

Author Bio

Qualification: CS
Company: NITIN KHOSLA & ASSOCIATES
Location: Punjab, IN
Member Since: 17 Jan 2019 | Total Posts: 4

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6 Comments

  1. KESAVA SAI RAJENDRA KOTA says:

    Whether Unearned revenue of subscription fees in case of software company to be reported in DPT – 3 as an advance from customers????

  2. M G RAMAN says:

    latitude & longitude allows only numerals to be entered . north, south , west , east cannot be entered. hence 4 possible locations for each company .

  3. Dhwani says:

    Are the details required to be proided Financial year wise from F.Y.2014-15 to 22/01/2019 in individual 5 DPT-3 or as on 22/01/2019 on cummulatice basis in a single DPT-3?

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