Form DPT- 3 (MCA)

DPT 3 is a return of deposits that companies must file to furnish information about deposits and/or outstanding receipt of loan or money other than deposits.

Introduction

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.

*The said time period was then amended by issue of General Circular No.05/2019 which stated that the additional fee will be levied after 30 days from the deployment of the form DPT -3 on MCA 21 portal. Therefore, the revised due date was 31st of May 2019. Since then the form must be filed annually.

Who is exempt from filing the return?

Every company except a government company must file this return.  Additionally, as per Rule 1(3) of the Companies (Acceptance of Deposits) Rules 2014, the following companies are also exempt: 

• Banking company
• Non-Banking Financial Company 
• A housing finance company registered with National Housing Bank
• Any other company as notified under proviso to subsection (1) to section 73 of the Act

• Filing of DPT 3

  DPT-3 may be of two varieties, as follows:

  • One time return
  • Annual return 

    The due date for filing

    The due date for filing the annual return is 30th June of every year. For example, for FY 200-21, the due date for DPT-03 is 30th June 2021

  • Consequences of non-filing 

  • If the company does not adhere to the requirements of DPT-3 and keeps accepting deposits then it will face the following consequences:

    • Under Section 73 A penalty of minimum 1 crore or twice the amount of deposits whichever is lower,  which may extend to Rs. 10 crore 
    • For every officer who is in default imprisonment up to 7 years and with a fine not less than Rs.  25 lakhs which may extend to Rs. 2 crores.  
    • Under Rule 21 On the company and every officer in default a fine which may extend up to Rs.  5,000, and where the contravention is a continuing one, a fine of Rs. 500 for every day since the default.  
      
      
      
      
      

    • Naveen Sharma 

      Director 

      Novation Knowledge Solutions Private Limited 

      Registered Office : 527 Keshavpura Kota Rajasthan 

      Branch : C -108 fourth Floor Kailash Colony Delhi -110065

      Email: Novationknowledgesolutions@gmail.com

      8107903071

      https://www.facebook.com/groups/592291968366566/?ref=share
      

      https://chat.whatsapp.com/GcfmXxtJvjG3rcKwXaYEEE

      
      

      
      

      https://www.facebook.com/NovationKnowledgesolutionsPrivateLimited/