DPT-3: Return of Deposits, Due Date, Compliance Checklist, Procedure and FAQs

DPT-3: Return of Deposits, Due Date, Compliance Checklist, Procedure and FAQs. Exordium:
 
Under Rule 16 of the Companies (Acceptance of Deposits) Rules, 2014, Every Company to which Companies (Acceptance of Deposits) Rules, 2014 applicable have to on or before the June 30 of every year file with the ROC, a return of deposits or specific transaction not regarded as deposit or both in E-Form DPT-3 together with the equivalent fees as applicable and provide the relevant information (duly audited) as on the last day of the F.Y.
 
This article has been written to supply each minute detail concerning the interpretation and filing of DPT–3 forms as disclosed by the Ministry of Company Affairs (MCA).
Definition of DPT -3
 
Deposits:

It is a one-time return that has to be filed by the company which have accepted the deposit according to section 73 of the company act 2013 and rules made thereunder.

It is also filed by a company having an outstanding loan that can't be treated as a deposit.

Generally, every amount received as a deposit from the public is treated as a public deposit.

Which company has to file DPT-3?

As per rule 16 A, every company which have received money and whose loan amount is due.

the private company, one-person company, small company and section 8 company have to file DPT- 3 Except Government company.

Secured and unsecured loans together with advance money for goods and services must be filed in DPT-3

Even holding company or subsidiary companies or associate companies advancing loans have to file DPT- 3

If the company has not paid the loan before 1st April 2014 which is continuing then such loan needs to report to ROC in form DPT -3

Which company need not file DPT-3?

The company which not have any outstanding loan as of 22nd Jan 2019

A company that does not accept any loan.

Government companies need not file DPT-3

The company that already paid loan before 22nd January 2019

Banking company

The non-banking finance company

A housing finance company

Other company as notified by MCA

The main objective of filing DPT-3
 
Companies shall disclose both secured and unsecured loan which is outstanding as on 31st March of FY.
 
Due date of filing E- form DPT-3
 
DPT-3 must be filed on or before 31st August 2021
 
Attachment required with form DPT-3

Certificate issued by the auditor

Depositor’s list

Other details

Amounts Received by Company thought of as Outstanding Loan:
 
(i) Sum Received from Central authorities
 
If the corporate receives any sum from the Central government or the authorities throughout the twelve months, the corporate should contemplate such amounts as outstanding loans and not deposits.
 
Below are the various sorts of sum receipts:

Any sum received from the Central Government or a state government.

Any sum received from the other supply whose reimbursement is secured by the Central Government or a state government

Any sum received from a neighbourhood authority

Any sum received from a statutory authority

(ii) Sum received from Foreign Governments
 
If an organization receives any foreign amount, the corporate should contemplate such receipts as an outstanding loan.
 
Listed below are the various sorts of foreign amounts
 
(a) Any sum received from foreign Governments.
 
(b) Any sum received from foreign or international banks, multilateral FI.
 
(c) Any sum received from foreign Governments in hand development FI.
 
(d) Any sum received from foreign credit agencies, foreign collaborators, foreign bodies, company and foreign voters,
 
(e) Any sum received from foreign authorities or a person resident outside India subject to the provisions of FEMA Act, 1999.
 
(iii) Sum Received from Bank
 
If an organization receives a loan from the bank, the corporate should contemplate such amounts as an outstanding loan.
 
Below could be a list of various receipts from banks:

Any sum received as a loan or facility from any banking concern

Amount received from the SBI or any of its subsidiary banks.

Amount received from a banking institution.

Amount received from a corresponding new bank.

Amount received from a co-operative bank.

(iv) Amount received from Public Finance Institute 
 
If an organization receives a loan from Public FI throughout the twelve months, the corporate should contemplate such amounts as an outstanding loan.
 
Below we shall examine the sort of sum received from public finance institutions:

Any sum received as a loan or monetary help from Public FI notified by the Central Government on this behalf in consultation with the Reserve bank of India.

Any sum received from regional financial establishments

Any sum received from Insurance firms

Any amount received from scheduled Banks.

(v) Sum received against the issue of commercial paper
 
Following are the various form of amounts that an organization has got to contemplate as an outstanding loan:
 
(a) Any sum received against the issue of commercial paper
 
(b) Any sum received against the other instruments issued below the rules or notification issued by the Reserve bank of India
 
(vi) Sum received from a different company
 
If an organization has received any sum from another company within the FY, such amounts are treated as an outstanding loan.
 
(vii) Sum received towards a subscription to any securities
 
If an organization receives any sum towards share application money, such amounts are treated as an outstanding loan.
 
Below are different kinds of amounts receipts towards securities:

Any sum received towards a subscription to any securities comprehensive of share application money.

Advance towards allotment of securities awaiting allotment

(viii) Sum received from the director of the private company
 
A company might receive any sum from the corporate director, such sum is taken into account as an outstanding loan. Therefore, the corporate should disclose such amounts within the board's report.
 
However, there's a condition for this sum to be thought about as an outstanding loan. The condition is that the director of the private company or relative of the director furnishes a declaration in writing that the sum isn't given out of funds non-inheritable by him by borrowing or acceptive loans or deposits from others. Also, he has got to furnish this declaration at the time of giving money to the corporate.
 
(ix) Sum raised by the issue of bonds or debentures
 
Any sum raised by the issue of bonds or debentures secured by a primary charge or a charge ranking at an equal rate with the primary charge on any assets stated in Schedule III of the Act excluding intangible assets of the corporate or bonds or debentures mandatorily convertible into shares of the corporate among [Ten years]:
 
Only if such bonds or debentures are secured by the charge of any assets stated in Schedule III of the Act, excluding intangible assets, the sum of such bonds or debentures shall not exceed the market price of such assets as assessed by a registered valuer.
 
(x) Sum received from an employee of the corporate
 
If the corporate receives an amount from a worker of the corporate, it should satisfy the subsequent conditions to contemplate it as an outstanding sum.
 
The quantity should not exceed his annual earnings
(b) Amount is sort of a non-interest-bearing security deposit.
 
(xi) Non-interest-bearing sum received & control in trust
 
If an organization receives any non-interest-bearing sum and holds it within the trust, it should contemplate such amounts as an outstanding loan.
 
Procedure for filing the DPT– 3 forms:
Here is the procedure of filing the E-form DPT – 3 with the ministry of company affairs (MCA).
1. Prepared the details
Keep the audited record of the corporate handy and therefore the details of the total sum outstanding on thirty-first March 2019 that is received by the corporate however not recognized as deposits.
2. Download the form DPT -3
In the beginning, simply open mca.gov.in and download the form DPT -3.
3. Prefill the main points
Enter the CIN of the corporate and prefill all the essential details like name, address and email.4. Fill in the mandatory information
Fill in all the specified info properly from the correct resources to avoid any clerical or non-clerical error. Keep the subsequent things in mind while filling the form DPT–3;

Choose the purpose of filing. choose the primary possibility just in case you would like to file the one-time DPT–3 form.

Choose your kind of company; Public or non-public.

Make sure you fill in all the necessary info.

You can skip all the non-mandatory info.

Attach the supporting documents like audited financial statement and auditor's certificate.

5. Sign the form DPT-3
After all the data has been crammed, recheck the form and sign it with the digital signature.
6. Upload the form DPT-3
After signing it with the digital signatures of the director, upload the form on mca.gov.in and therefore the whole process is complete.
 
Compliance Checklist for DPT-3:

Financial statements including Balance Sheet and financial to get the statistics of total Net Worth and Outstanding amount.

Auditor's certificate- it is Not mandatory if one is filing DPT 3 to mention outstanding loan. It is compulsory for only those companies which are furnishing DPT 3 to mention the deposits held by it.

Trust deed copy – It is compulsory if a company has a trust deed and details of same are disclosed in the form

Instrument creating charge copy – it is Mandatory if the company has created a charge and details of the same are disclosed in the form.

Depositors List – List of all the deposits matured, cheques issued but pending to be shown separately – it is Mandatory if the company has a sum of deposits outstanding at the end of the year.

Details of assets in case of a company include deposits maturing before 31st March next year and following next year.

Digital Signature Certificates of Director/ Manager/ CEO/ CFO/ Company Secretary to digitally sign the e -form DPT 3.

Frequently Asked Questions:
 
What is E-form DPT 3?
Meaning- It is a return of deposits or particulars of transaction which is not contemplate a deposit or both that every company should furnish before 30th June every year.
 
What is DPT-3 Return?
It is an annual return that every company with an outstanding loan as of 31st March of an FY should furnish on or before 30th June of the following year.
 
What is the last date of DPT 3?
It is 31st August 2021.
 
Is the DPT 3 form due date extended?
According to the latest MCA circular issued on 30th June 2021, the due date for FY 2020-21 was extended and made it 31st August 2021 which is also passed by now.
 
Is filing Nil DPT 3 form compulsories?
If a company does not have any unpaid sum as of 31st March of the FY, then it is not mandatory to file Nil return for DPT 3.
 
Is Auditor's certificate compulsory for DPT-3?
If DPT 3 is furnished for One Time return or an annual return for an unpaid sum, it is not compulsory to attach the Auditor's certificate. However, if the company is furnishing DPT 3 as Return of Deposit, then Auditor's certification is needed.
 
Is DPT3 relevant to NBFC?
No, NBFC companies don't need to file e-form DPT-3.
 
What is the motive of DPT-3?
It is an e-form used to furnish deposits or particulars of transactions which is not considered deposits or both by every company excluding government companies.
 
Is Form DPT-3 need to be filed if there is no unpaid loan?
No, it is not required to be filed if there is no unpaid loan at the end of the financial year.
 
Which companies need to file DPT-3?
All companies incorporated in India including Private Limited Company, Public Limited Company, One Person Company (OPC) and Small Company need to file DPT-3.
 
What date does the company consider for showing the unpaid loan sum in DPT-3?
Loans obtain from 1st April 2014 to 31st March 2019 and unpaid as of 31st Mar 2019 must consider as outstanding loans and disclose in DPT-3.
 
If the company receive any sum as a loan before 1st April 2014 and is unpaid as of 31st March 2021. Should the company disclose this sum in DPT-3?
Yes, the company should disclose any unpaid loan sum as of 31st March 2021.
 
If I have an unpaid loan only the current FY, do the company need to file DPT-3 two times one for declaration and one for periodic or every year filing?
The company can furnish DPT-3 only once. If this is 1st-time company are filing DPT-3, the company can file a Return for the current financial year. From the following year onwards, if the company have any unpaid loan, the company can file DPT-3 annual return yearly by thirty June.
 
While furnishing DPT-3 for FY 2020-21 which financial year data is to be contemplated as the audit is not completed for FY 2020-21?
For furnishing DPT-3 for FY 2020-21, the company must consider the unpaid loan of the company as of 31st March 2021.
 
How can Compliance Calendar help?
 
In the above article, we have discussed compliance regarding filling of E-form DPT-3. One needs the help of a Competent Professional for fulfilling the requirement for filling DPT-3 form. Compliance Calendar LLP has a team of Proficient Professionals who help in fulfilling the requirement of DPT 3 compliance and laws related to it. If you have got any queries for us, email us at info@ccoffice.in or WhatsApp/Call at 9988424211

DPT-3: Return of Deposits, Due Date, Compliance Checklist, Procedure and FAQs

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