Form DPT-3 Filing: Rules, Deadlines and Consequences Explained

Form DPT-3 is an important electronic form required by companies under the Companies (Acceptance of Deposits) Rules, 2014. It is crucial for companies to understand the applicability, deadlines, and consequences of non-compliance related to Form DPT-3 filing. In this article, we will explore frequently asked questions about Form DPT-3 and provide comprehensive answers to help businesses meet their regulatory obligations.

1.Q What is Form DPT-3?

Ans. Form DPT-3 is an electronic Form which is notified under Rule 22 i.e Annexure under the Companies (Acceptances of Deposits) Rules, 2014.

Q.2 On which Companies filing of Form DPT-3 applicable?

Ans. Form DPT-3 filing is applicable on all Companies either Private Company, Public Company, One Person Company, Section 8 Company only few Companies Listed under Rule 1 of the Companies (Acceptance of Deposits), Rules, 2014 i. e A Banking Company, An NBFC, Housing Finance Company which is registered, any Company specified by Central Government after consultation with RBI and the Government Company exempted under Rule 16 of the same rules to file Form DPT-3.

Q.3 Last date to file Form DPT-3 for the financial year 2022-23?

Ans. As per Rule 16 of the Companies (Acceptances of Deposit) Rules, 2014, prima facie specifying filing return of deposits in form DPT-3 with the registrar of Companies, every year on or before 30th June shall file,

By adding an explanation to the Rule 16, it give explanation to Rule 16 that the Form DPT-3 shall be used for filing return of deposit or particulars of transaction not considered as deposit therefore it is derived that since there is no last date to file the Form for transaction not considered as deposit then its last date also June 30 every year.

Q.4 Whether Auditor signature requires on Form DPT-3?

Ans. As per Rule 16 of the Companies (Acceptances of Deposits) Rules, 2014, where Return of Deposits is being filed with the Registrar then declaration is required to submitted and digitally signed by the Auditor of the Company, but for transaction not considered as Deposits no digital signature of Auditor requires.

Q.5 Whether Nil return requires to be filed?

Ans. Form DPT-3 format earlier only outstanding balances requires to be disclosed but now format changed , opening and closing balances also requires to be disclosed so if the opening figures are there and repaid during the year and there were no closing figures then also Form DPT-3 is mandatory but if opening and closing figures are nil and no acceptances and repayment during the year then filing is not mandatory but if Company willing to file the nil return then it can file .

Q.6 If Form DPT-3 not filed within due date what are consequences?

Ans. Rule 21 of the Companies (Acceptance of Deposits) Rules, 2014 provides that any contravenes any provision of these rules for which no punishment is provided in the Act, the Company and every officer of the company who is in default 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 along with additional fees as mentioned in Companies (Registrar of offices and Fees), Rules, 2014.

Section 76A not applicable in case Company fails to file Form DPT-3 as per my interpretation because, Section 76A specifically described the nature of offences and not covered the defaults of non-filing of form.

Conclusion: Form DPT-3 filing is an essential compliance requirement for companies in accordance with the Companies (Acceptance of Deposits) Rules, 2014. Understanding the applicability, deadlines, and consequences associated with Form DPT-3 is crucial to avoid penalties and maintain regulatory compliance. Companies must ensure they meet the filing requirements, including obtaining the necessary auditor declaration, disclosing relevant balances, and adhering to the June 30th deadline