FORM DPT 3 - Online Procedure for Filing, DPT 3 Form Elements
form dpt3

What is DPT-3 Form

DPT 3 was notified to protect the interests of the Company’s deposit holders or creditors, the Central Government in consultation with the Reserve Bank of India (RBI) in the Companies (Acceptance of Deposits) Amendment Rules, 2020 to amend the Companies (Acceptance of Deposits) Rules, 2014.

DPT-3 is an annual return that must be filed every year by companies for every volume of loan or advances as of 31st March. Every transaction other than the deposits is to be filed in the DPT-3 form by every company, excluding the Government Organisations. Using DPT3, the company registrar is notified about the loan/money received by the Company.

The DPT-3 e-type is a dynamic firm that operates based on radio buttons chosen by the operator. The below are the two forms of returns: 

  1. One-time return: The return submitted for an unpaid sum of money collected that was not classified as a deposit could only include money received after April 1, 2014, and the amount should have remained outstanding as of March 31, 2019.
  2. Annual return: The annual return is filed on any money collected that was not listed as a deposit. That will include money earned before April 1, 2014, and still owed as of today. This return must be filed last year.

Who all should file DPT 3 form

The following businesses are expected to file the DPT-3 form. As a result, if you fall into any of these categories, you must file Form DPT 3:

  1. Private Limited Company
  2. Public Limited Company
  3. One Person Company (OPC)
  4. Small Company
  5. However, since insurance providers are licensed with IRDA, they are also required to file DPT-3. Even if the Holding Company, Subsidiary Company, or Associate Company obtains the loan, the DPT-3 Form must be filed.

The DPT 3 filing fees are calculated based on the company’s paid-up capital. This Form does not apply to the following companies:

  • a government company
  • a banking company
  • non-banking but financial organizations that are registered with the RBI – Reserve Bank of India
  • Housing loan corporations that are registered with the National Housing Bank. 

Is there a due date for DPT 3 form filing

The DPT 3 due date is defined in Rule 16 of the Companies (Acceptance of Deposits) Rules, 2014: 

“Every company to whom these laws concern shall file, on or before June 30th of every year, a return in Form DPT-3 with the registrar of companies along with the invoice provided for by the Rules of Procedure 2014 on the registers (registration offices and fees) and shall provide the particulars contained therein, duly audited by the auditor of the corporation as of March 31st.

Explanation– It is hereby explained that Form DPT-3 shall be used by any entity other than the Government company for filing return of deposit or details of transaction not considered as deposit, or both.”

DPT 3 Extension was given by the government for F.Y. 2019-20 up to 30th December 2020 due to the covid-19 pandemic.

Elements of a DPT 3 form

  1. The most recent audited balance sheet
  2. Dates of publication and expiration of advertisements or circulars
  3. Deposit particulars
  4. The total number of deposits and depositors
  5. The number of reserves that have matured yet has not been claimed
  6. Charge Specifications

Required Attachment for DPT 3:

  1. Certificate of Auditors
  2. Deposit Insurance contract – Required whenever a business has deposit insurance and the particulars are included in the document.
  3. Copy of trust deed – Required if a corporation has a trust deed and the particulars of the same are included in the form.
  4. Instrument making charge copy – Required if a corporation has a trust deed and the particulars of the same are stated in the form.

Steps involved in DPT 3 filing (Online procedure for DPT 3 filing)

Following are the online procedure for DPT 3 filing :

  • Enter your CIN and press the Pre-fill button.

Open the form, enter the Company’s CIN, and press Pre-fill. The Company’s specific information would be pre-filled. However, you can edit the Company’s e-mail ID and enter a new one.

  • Choose the reason for filing the form.

Click on the appropriate tab based on the purpose of filing the form and enter if the corporation is a government company.

  • Enter the company’s Objects.

If the company’s Objects are not pre-filled, you may join them.

  •  Type with the most current fiscal year’s end date.

Just enter such material if the object is ‘Return of Deposit’ or ‘Particulars of transactions by a corporation not considered as a deposit or ‘Return of Deposit and Particulars of transactions by a company not considered as a deposit.

  • Enter the details required to measure your net worth.

You must enter the details from the most recent audited balance sheet preceding the date of the Company’s return.

  • Enter the overall deposit limit, the total number of deposit holders as of April 1st and at the end of the fiscal year, and deposit details.

Just enter such material if the goal is ‘Return of Deposit’ or ‘Return of Deposit and Particulars of Transactions by a Firm Not Regarded as a Deposit.’

  • Enter the particulars of your liquid assets, as well as the specifics of the fee you paid, as well as the total amount you owe.

Amount of investments due to mature by March 31st of the following year, Amount required to be invested in net assets, and so on.

  • Attach the necessary paperwork, sign the form, then submit and upload.

Attach the required documentation, then digitally sign the form. Finally, fill out the form and send it to the MCA server.

  1.  What is the penalty if the Company does not submit the Form?

If a company fails to comply with any clause stated in the Deposits Rules for which no penalty is given in the Act, the company and any officer of the company who is at fault are liable for a fine of up to five thousand rupees and, if the contravention is pending, with prison, according to Rule 21 of the Companies (Acceptance of Deposits) Rules, 2014.

  1. Can the interest and principal balance be used when filing DPT 3 Form?

As of March 31, the amount outstanding in DPT-3 shall include both principal and interest.

  1. What numbers would a newly formed corporation need to fill out the form?

If no audited reports for the previous year are valid, file the form with unaudited estimates.

  1. In which column shall the loan obtained from Shareholders be listed in the case of a private limited company?

The sum received from the shareholder must be noted in columns 9 and 10, i.e. Deposit. A loan from a shareholder would be treated as a deposit.

  1. What remote button in DPT-3 should be selected if the company only has non-deposit entries?

In this case, Remote Button 3 in DPT 3 must be set to “Particulars of transactions by a firm that is not called deposits under Rule 2 (1) (c) of the Companies (Acceptance of Deposit) Rules, 2014.”

Categories: TAX
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