Form DPT-3 Return Filing

Every company, excluding government companies, must file a return of deposits in Form DPT-3 with the Ministry of Corporate Affairs (MCA) by June 30th each year. This return should include details of deposits, outstanding loans, and any amounts received that do not qualify as deposits as of March 31st of that year. DPT-3 return is audited by the company's auditor to ensure accuracy and compliance.

Introduction to DPT-3 Filing

To safeguard the interests of creditors and depositors, the Central Government, in consultation with the Reserve Bank of India, introduced an amendment to the Companies (Acceptance of Deposits) Rules 2014 through the Companies (Acceptance of Deposits) Amendment Rules 2019.

In line with this, MCA, vide its notification dated 22nd January 2019, notified that every company other than a government company must file a one-time return in DPT 3. It is also required to be filed annually. Accordingly, a sub-rule (3) was inserted after sub-rule (2) in Rule 16A of the Companies (Acceptance of Deposits) Rules, 2014, which reads as follows: 

Every company other than Government company shall file a onetime return of outstanding receipt of money or loan by a company but not considered as deposits, in terms of clause (c) of sub-rule 1 of rule 2 from the 01st April, 2014 to 31st March, 2019, as specified in Form DPT-3 within ninety days from 31st March, 2019 along with a fee as provided in the Companies (Registration Offices and Fees) Rules, 2014.

Eligible Companies for Form DPT-3 Return Filing

Form DPT-3, filing the return of deposits, applies to several types of companies in India. The following categories of companies are eligible to file Form DPT-3:

• Private Limited Companies
• Public Limited Companies
• One Person Companies (OPC)
• Small and Non-Small Companies

It is important to note that even if a company has received a loan from specific entities, it must file Form DPT-3. These entities include:

• Holding Company: If a company has obtained a loan from its holding company, which has a controlling stake, Form DPT-3 filing is mandatory.
• Subsidiary Company: In the case of a loan from a subsidiary company controlled by the borrowing company, filing Form DPT-3 is necessary.
• Associate Company: When a company has received a loan from an associate company with a significant influence on the borrowing entity, filing Form DPT-3 is obligatory.

It is important to note that government companies are exempted from filing Form DPT-3.

Exempted Companies from Filing Form DPT-3

Under the Acceptance of Deposits Rules of 2014, certain companies are exempted from filing the DPT-3 form as per the Companies Act. The exemptions primarily relate to the filing of loan returns. The following types of companies are exempt from filing Form DPT-3:

• Government Companies: Companies wholly owned and controlled by the Central or State Government are exempt from filing DPT-3.
• Specified Financial Institutions: Certain financial institutions are exempt due to their existing regulatory framework. This includes:
• Banking Companies: Banks regulated by the Reserve Bank of India (RBI) are not required to file DPT-3.
  • Non-Banking Financial Companies (NBFCs): NBFCs registered with the RBI are exempt.
  • Housing Finance Companies: Companies registered as housing finance companies under the National Housing Bank (NHB) do not need to file DPT-3.
• Other Notified Companies: In rare cases, the Ministry of Corporate Affairs (MCA) might notify specific companies under a special provision (proviso to subsection (1) of section 73 of the Act) for exemption from DPT-3 filing.

Form DPT-3 Applicability

All companies, except those mentioned under exemptions, are required to file the DPT-3 return if they have received the following:

• Deposits from members or directors
• Loans from third parties
• Advances for goods or services (secured or unsecured)

The filing of Form DPT-3 applies to a wide range of monetary transactions and debts. Here are the types of money or debts to which Form DPT-3 is applicable:

• Secured Debts: These are loans or obligations backed by collateral or security the borrowing company provides.
• Unsecured Debts: These are loans or debts without collateral or security attached.
• External Borrowings: Form DPT-3 also encompasses debts or borrowings from external sources, such as financial institutions or banks.
• Commercial Borrowings: Loans or debts obtained by companies for commercial purposes are covered by Form DPT-3.

Transactions Not Considered as Deposits for DPT-3 Filing

 Form DPT-3 focuses on reporting deposits a company receives. Here is what doesn't count as a deposit:

• Share Capital: Money received from shareholders for shares.
• Debentures Issued: Loans from investors, treated separately.
• Advances on Orders: Payments are received upfront for confirmed orders.
• Government Receipts: Money from government or foreign sources.
• Loans from Banks: Money borrowed from banks or financial institutions.
• Inter-Company Loans: Loans from other companies.
• Subscription Advances: Money paid in advance for upcoming securities.
• Employee Deposits: Security deposits from employees up to their annual salary.

Form DPT 3 Due Date

The due date for filing Form DPT 3 is June 30th of every year. This deadline applies to all companies required to report their deposits or outstanding receipts of loans or money not considered deposits for the financial year ending on March 31st.

Here's a breakdown for clarity:

• Financial Year: The financial year in India typically runs from April 1st to March 31st of the following year.
• DPT-3 Reporting: Companies must report all deposits and outstanding receipts that occurred during this financial year.
• Due Date: The deadline to file DPT-3 for the previous financial year falls on June 30th.

Example: For the financial year 2023-24 (April 1, 2023, to March 31, 2024), the DPT-3 filing deadline would be June 30, 2024.

Documents Required for Filing Form DPT-3:

To complete the filing of Form DPT-3, the following documents are typically required:

• Auditor's Certificate: An auditor's certificate verifying the information provided in the DPT-3 form regarding the company's deposits and outstanding receipts is mandatory.

Optional Documents (depending on your specific situation):

• Proof of Trust Deed:  If your company has created a trust to hold deposits received, a copy of the trust deed needs to be attached.
• Instrument Creating Charge (if any):  In case your company has created a charge (security interest) on any assets to secure deposits, a copy of the instrument creating that charge must be uploaded.
• Details of Liquid Assets: The DPT-3 filing may require information on the company's liquid assets, which are assets that can be easily converted into cash. Documents supporting these details may be required.
• List of Depositors (in some cases):  Depending on the specific type and value of deposits received, the MCA might require a list of depositors with their details.

Fees for Filing Form DPT-3

The fees for filing Form DPT-3 are determined as per the Companies (Registration Offices and Fees) Rules.

Consequences of Non-compliance with the DPT-3 filing 

Non-compliance with the DPT-3 filing requirement pursuant to Rules 16 and 16A of the Companies (Acceptance of Deposits) Rules, 2014. can lead to penalties and other legal consequences. Therefore, it is in the best interest of companies to diligently complete and submit the form to the MCA within the stipulated timeframe. By doing so, companies can maintain good standing with regulatory authorities and ensure that their financial activities are in accordance with the applicable laws and regulations.

DPT-3 Penalty

According to the Companies Act 2013, if a company or any of its officers fail to comply with the filing requirement of Form DPT-3 or commit any default related to the filing, they can be subjected to penalties-

• Fine for the Company: The company itself can be fined an amount that may extend up to five thousand rupees.
• Fine for Officers in Default: The officers of the company who are responsible for the default can also be fined an amount that may extend up to five thousand rupees.
• Additional Fine for Continuing Contravention: If the contravention or default is a continuing one, i.e., it persists beyond the first day, then a further fine may be imposed. This additional fine can be up to five hundred rupees for each day after the first day, during which the contravention continues.

These penalties are intended to ensure compliance with the filing requirements and regulations under the Companies Act 2013. For companies and their officers to fulfil their obligations, including the timely and accurate filing of Form DPT-3, to avoid such penalties and maintain compliance with the law.

How to File DPT-3?

Form DPT-3 is a web-based form that must be filed online through the Ministry of Corporate Affairs (MCA) website. The process involves several steps, which are outlined below to give you a comprehensive understanding of the DPT 3 filing procedure. If you encounter any issues or need professional assistance, our experts are always available to help.

Visit the MCA Portal & Login:

• Go to the MCA website. This is the official portal for all e-filing and services provided by the Ministry of Corporate Affairs, including the filing of Form DPT-3.
• Log into your account. If you do not have an account, you can create one by registering as a Business User.

Access the DPT-3 Webform:

• Navigate to the Form: Once logged in, go to the main menu, and under the  MCA Services section, click on  e-filing services.
• Select Deposit Filings: From the dropdown menu, select  Deposit Related Filings and then access the DPT-3 Webform. The entire process is conducted online from start to finish.

Fill Out & Submit the Form Online:

Here is the information to be furnished when filing Form DPT-3:

• CIN of the Company: The Corporate Identification Number (CIN) assigned to the company.
• Email ID: The official email address of the company for communication purposes.
• Objects of the Company: A description of the primary business activities or purposes for which the company was established.
• Net Worth of the Company: The net worth of the company as of the most recent financial year-end, typically calculated as total assets minus total liabilities.
• Particulars of Charge (if any): Details of any charges or encumbrances on the company's assets.
• Total Amount Outstanding as of 31st March 2020: The total outstanding amount of deposits, loans, or other funds as of March 31st, 2020.
• Particulars of Credit Rating: Information on the credit rating of the company, if applicable, including the name of the credit rating agency and the rating assigned.
• Attachments: Attach the necessary documents in digital format to support the details provided in the form. A comprehensive list of required documents is provided in the section above.

Submit the Form to Generate SRN:

• Form Submission: After filling out the form and attaching the required documents, submit the form online. A Service Request Number (SRN) will be generated, which you can use to track the status of your form until all formalities are completed.

Affix the DSC & Pay the Required Fee:

• Digital Signature: Authenticate the form with the applicant's Digital Signature Certificate (DSC).
• Fee Payment: Pay the required fee for the DPT-3 filing. The fee varies based on the company's nominal or paid-up capital and increases accordingly. Detailed fee structures are provided in the further sections.

Receive the acknowledgement mail:

• Acknowledgement: You will receive an acknowledgement of your filing on your registered email address, confirming that the Registrar of Companies has received the return of deposits for the financial year.

Completing the DPT-3 filing process is essential for regulatory compliance and avoiding penalties. Contact our experts to ensure a smooth and efficient filing experience if you need further guidance or support.

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