Article summarizes Companies (Acceptance of Deposits) Amendment Rules, 2019 as follows:-
1. Every company receiving monies deposits, loan, ICD, advances, etc. is required to file DPT-3 annually.
2. One time return for every company who have outstanding monies which are not deposits as per rule 2(1) (c) (Specified in Annexure-1.)
Meaning of Deposits Section 2(31) – Deposits includes any receipt of money by the way of loan or in any other form by a company, but doesn’t include categories as mentioned hereunder in Annexure-I.
|Explanation of Amendment Rule/Notification/ Circular||Applicable form & Due Date of Filing|
Clarifies that Return of Deposit (DPT-3) to be filed by every company other than government company for:-
b. Transaction not considered as deposits, as mentioned in Annexure-1 or
Rule-16 A(3)-Newly Inserted
Every company other than Government Company shall file one time return of outstating loan by the company but not considered as deposits from 1st April 2014 till 22nd Jan 2019.
DPT-3 with 90 days from the date of publication of notification i.e. 20th April 2019.However amended form in yet to be notified.
In case of non-compliance fine of Rs. 500 per day as specified in Rule-21.
Transaction which are not Considered as Deposits (Annexure- 1)