Analysis of Form DPT-3- Applicability, Due Date and Attachments

Every company registered with MCA has to file on time return of any outstanding receipt of money or loans that are not considered the deposit as per the companies (Acceptance of deposits) Amendment Rules, 2019.

MCA has made it necessary to file Form DPT-3 for all the companies registered in India except government companies before 22nd April 2019. The applicants along with the form will have to furnish details like outstanding loans or receipts that are not considered deposits as per the act.

Applicability of Form DPT-3(Return of Deposits)

 As per the rules 16 of Companies (Acceptance of Deposit) Rules, 2019; the companies that are registered with MCA have to file Form DPT-3.

The Rules provided an explanation

“The Form DPT-3 shall be used for filing return of deposit or particular of transaction not considered as a deposit or both by every company other than government company.”

As per the above explanation, it is clear that other than government companies every other company have to file a return of outstanding receipt of money or loan as that is outstanding on 31st March 2019

Types of Companies that are required to file form DPT-3

NOTE: NBFC companies need not file form DPT-3 with MCA as rules are not applicable to them.

Requirements and Attachments as per Law

The companies as per the requirement of rule 16 will have to file:

  • Return of deposits
  • Transaction details that are not considered as a deposit

The returns have to file with the registrar of companies every year on 30 June.

The form DPT-3 format has been revised and has to be submitted with the following documents:

  • Auditor’s certificate
  • Latest auditor balance sheet

Due Date for DPT-3

The due date to file the respective form with the government will completely rely on the fact that you are filing the one time return for the company or the annual return.

Return

Due Date

One-time return

90 days from 31st March

Annually: particulars of transactions

30th June Every Year

 

NOTE: In case of NIL return there is no need for filing both onetime as well as the annual return

Cost for Filing

The cost incurred while filing Form DPT-3 depends entirely upon the Paid-up capital of the company.

Nominal Share Capital

Govt. Fees

Less Than 1,00,000

200 rupees per document

1,00,000 to 4,99,999

300 rupees per document

5,00,000 to 24,99,999

400 rupees per document

25,00,000 to 99,99,999

500 rupees per document

1,00,00,000 or more

600 rupees per document

 

Consequences Late filing of DPT-3

Company will have to file the form within the due date mentioned or else the company will be liable to pay late fees along with the form.

Moreover, if the company does not file the form and is accepting deposit the person will be liable for the following Consequences:

  • The company will be fined a minimum of Rs 1 crore or double the amount of the deposit that is accepted. The fine may extend to 10 crores.
  • The officers of the company will be liable for imprisonment up to 7 years or fine that may extend to 2 crores and a minimum of 25 lakh rupees.