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Form DPT 3: A Comprehensive Guide to Return of Deposits

Mastering the complexities of regulatory adherence is vital for any corporation. Within corporate governance, strict compliance with regulations concerning deposit reimbursements is of utmost significance. Form DPT-3, a mandatory document providing details about deposits received or loans along with other monetary receipts outstanding, plays a central role in this framework, guaranteeing transparency and answerability. The purpose of this guide is to clarify the intricacies of DPT-3 submission, providing insights into its prerequisites, consequences, and the route to meeting regulatory standards.

Who shall submit form DPT-3?

The Form DPT-3 is a requisite submission for all companies registered in India, excluding Government, Banking Companies, Non-Banking Financial Institutions, and Housing Finance Companies. Individual entities like individuals, proprietorships, or partnership firms are exempted from this obligation.

Which companies are required to file DPT-3?

All categories of companies, including public, private, small, dormant, and one-person companies, are mandated to file DPT-3, except for government companies.

What is the due date of submitting Form DPT-3 by the companies?

As per Rule 16A of the Companies (Acceptance of Deposit) Rules 2014, companies must electronically submit Form DPT-3 by the 30th of June annually for every Financial Year.

What is the change brought by Companies (Acceptance of Deposits) Amendment Rules, 2019?

The amendment rules broaden the reporting scope, now encompassing loans and outstanding receipts alongside deposits, compared to the previous reporting requirements.

Which category of loans are required to be reported in DPT-3?

Form DPT-3 necessitates reporting all outstanding receipts, unsecured loans, and secured loans, excluding amounts considered as deposits.

For which period DPT 3 shall be filed as per the amendment?

DPT-3 filing applies to outstanding loans and receipts of money from April 1, 2014, as per the 2019 amendment rules.

What are the documents required to be attached with DPT-3?

Submission of Form DPT-3 necessitates attachment of various documents, including auditor certificates, trust deeds, charge creation instruments, and particulars of liquid assets.

What if the company has repaid the loan?

Only outstanding loans and receipts require reporting in DPT-3, excluding those already repaid.

What is the periodicity of filing DPT-3?

DPT-3 filing occurs:

  • One time for outstanding receipts or loans incurred between April 1, 2014, and January 22, 2019, by April 22, 2019.
  • Periodically for non-deposit transactions annually until June 30 of the subsequent fiscal year.

What are the disclosure requirements by the Private Company?

In addition to DPT-3, private companies must disclose loan transactions with directors or relatives in their Board’s Report and Notes to Accounts.

What will be the Penalties and Consequences in case of non-compliance?

Non-filing of DPT-3 incurs penalties of up to Rs 5,000, with additional fines for continuing defaults. Accepting deposits without compliance leads to substantial fines and potential imprisonment for officers in default.

Whether auditor certificate is required to attach in e-form DPT-3 filed for one time return?

Rule 16A(3) of the Companies (Acceptance of Deposits) Rules,2014 doesn’t not state about auditor certificate in complete rule. Therefore, it seems that there is no need to attach auditor certificate in one time Return of DPT-3. However, the Ministry of Corporate Affairs vide its notification on August 29, 2022 has amended Rule 16 stating that declaration shall be submitted by the auditor.

Whether entry wise/ transaction wise reporting is mandatory in DPT-3 one time?

As per available e-form ‘CONSOLIDATED’ amount of “Total amounts of outstanding money or loan received by a company but not considered as deposits in terms of rule 2(1)(c) of the Companies (Acceptance of Deposits) Rules, 2014 as specified in rule 16A(3) required to mention in point no. 14 of e-form.

If company doesn’t accept loan or doesn’t having any outstanding Loan. Whether there is a need to file DPT-3?

If there is no outstanding Loan or company doesn’t accept any loan there is no need to file e-form DPT-3 with Registrar of Companies.

Conclusion

In conclusion, Form DPT-3 stands as a critical tool in ensuring regulatory compliance and transparency in financial dealings for companies operating in India. Adherence to deadlines and periodic filings is imperative to meet regulatory standards and avoid penalties for non-compliance. Moreover, private companies must uphold additional disclosure requirements, further reinforcing transparency in related-party transactions.

InstaFiling specializes in navigating regulatory complexities, ensuring compliance with deposit management regulations like Form DPT-3. Our seasoned professionals provide tailored solutions to streamline corporate processes, ensuring precision and expertise in every aspect of compliance. With InstaFiling, you can confidently navigate regulatory requirements, focusing on driving your business forward with efficiency and compliance.

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