Receiving multiple query about filling of DPT-3.

People are asking about number of DPT-3 are required to file for FY ended on 31-03-2019 including one time return of deposit?

MCA has inserted an explanation to rule 16 and a new rule 16A vide notification dated 22-01-2019.

Explanation to rule 16:

[Explanation- 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.]

Earlier DPT-3 was required to be filed annually, by 30th June only for amount covered under Deposit. By virtue of explanation inserted by notification dated 22-01-2019, DPT-3 is now required to be filed by the every company other than Govt Co. for transaction which is not consider as Deposit according to deposit Rule 2(1)(c)

Accordingly, one DPT-3 is required to be filed for FY 2018-19 as Return of Deposit or Transaction not covered as Deposit under rule 2(1)(c).

New Rule 16A (Amended by notification dated 30-04-2019): 

“Every co. other than Govt. Co. is shall file a onetime return of outstanding Money as on 31-03-2019 which were not considered as Deposit pursuance to rule 2(1)(c) during 01-04-2014 to 31-03-2019.”

It is a disclosure requirement and DPT-3 is required to be filed separately for that purpose with respect to o/s Money as on 31-03-2019.

Someone has a view that One time return cover transaction during FY 2018-19 and therefore annual return under Rule 16 (discussed in the first part of this article) not required to be filed.

My View on the DPT-3 are:

Separate DPT-3 are required to file for Annual Return of Deposit under Rule 16 as well as for  Disclosure under Rule 16A

DPT-3 is required to be filed even if o/s loan as on 31-03-2019 is Zero and during the period 01-04-2014 to 31-03-2019 there is transaction of deposit or loan.

As it is a disclosure requirement and covers period 01-04-2014 to 31-03-2019. Don’t Forget to attach in DPT-3 under Additional Attachment a Year Wise details of transaction not covered under deposit in pursuance to rule 2(1)(c) for the periods 01-04-2014 to 31-03-2019 mentioning the fact under remarks as the loan has been repaid.

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6 Comments

  1. CS Rachna says:

    If the amount belongs to prior 01.04.2014 and the same is outstanding on 31.03.2019, is it need to be reported or excluded from the figure which require data from 01.04.2014-31.03.2019.

    1. CA Sumant Choubey says:

      In regards to the o/s loan which has been raised prior to 01-04-2014, the same shall not to be reported as the period covers itself says that the the transaction which is not consider as deposit during 01-04-2014 to 31-03-2019.

  2. Navneet says:

    Whether working capital facility received from banks and utilised an under the corporate guarantee(No charge filed), has the same reported in form DPT-3

    1. CA Sumant says:

      Your question is covered under Rule 2(1)(c)(iii) which says:

      “any amount received as a loan or facility from any banking company or from the State Bank of India or any of its subsidiary banks or from a banking institution notified by the Central Government under section 51 of the Banking Regulation Act, 1949 (10 of 1949), or a corresponding new bank as defined in clause (d) of section 2 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970) or in clause (b) of section (2) of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980) , or from a co-operative bank as defined in clause (b-ii) of section 2 of the Reserve Bank of India Act, 1934 (2 of 1934)”

      Accordingly, any amount which has been received by the company whether as a loan or “Facility” is covered there-under irrespective of their utilization.

      I hope this will help you,
      For clarification write us.
      Thanks

  3. Vishant Shetty says:

    There are two things;

    1 First is One time return for disclosures of details outstanding money or loan not considered as Deposit : Filing is not required is there is no outstanding
    2. Second is Particulars of transaction not considered as deposit : Filing is required even is there is no outstanding as it covers all the transaction

    Correct me if my understanding is right

    1. CA Sumant says:

      There are 2 separate things One is One Time return for the a block of period and other is annual return.

      Agree with Point no.1. But still we can prefer to initiate filling if there were transaction in 01-04-14 to 31-03-2019 and o/s receipt is nill due to repayments of loan.

      Not agree with Point No-2, only required to be filed if there is any transaction of Deposit or amount not consider as deposit under rule 2(1)(c)

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