09 Mar
WHAT IS FORM DPT 3? & EVERYTHING YOU NEED TO KNOW
WHAT IS FORM DPT 3? & EVERYTHING YOU NEED TO
KNOW
FORM DPT-3 (MCA)
DPT3 is a form that must be filed by companies to provide
information on deposits and/or outstanding receipts of loans or money other
than deposits
FILING DPT3
DPT-3 can be of two types:
One time Return
Annual returns
TRANSACTIONS ARE NOT CONSIDERED DEPOSITS
· Any
amount received from the Government or Foreign Government / Foreign Bank is
guaranteed.
· Any
amount received as a loan or facility from any public financial institution, insurance
companies or banks
· Any
amount received from the company by the company.
· Securities
subscription and advance call.
· Any
amount received from a director of a company or a relative of a director of a
private company, including positions at the time of the loan.
· By any
amount received by the company from the employees, security deposit under the
employee's contract not exceeding his annual salary.
· Any
amount received by the business of the company for the supply of goods or the
provision of services or the performance of a contract as a security deposit or
the purpose of the business of the company.
· Receipt
of Rs. 25 lakhs or more by a startup company in the form of convertible note,
in a single tranche.
· Charge
the first charge by issuing securities bonds or debentures, the amount accrued
by non-convertible debentures on the company's assets.
· Unsecured
loans from promoters
· By any
amount received from a collective investment scheme, alternative investment
fund or a mutual fund registered with SEBI.
Therefore, any amount that is secured or unsecured and the
amount held as arrears or debt not considered as a deposit should be recorded.
DATE DUE FOR FILING
The due date for filing annual refunds is June 30 of each
year.
For example, for the financial year 2020-21, the due date
for DPT-03 is 30th June 2021.
INFORMATION TO BE FURNISHED
Details to be submitted are CIN of the Company, Email ID,
Objects of the Company, Net Worth of the Company, details if any, Total amount
due by 31st March 2021 and details of Credit Rating.
DOCUMENTS HAVE TO BE SUBMITTED
· Certificate
of Auditors
· A copy
of the trust deed
· Insurance
deposit and insurance contract, where applicable and stated in the form
· A copy
of the instrument that created the Creating Fee
· Depositors
List - The list of deposits is mature and checks have been issued but have not
yet been shown separately.
· Details
of Liquid Property
FILING FEES
Fees will be payable as per the Companies (Registration
Offices and Fees) Rules.
FAILURE TO FILE
If the company does not comply with the requirements of
DPT-3 and continues to accept deposits, it will face further consequences.
· A fine
of at least Rs. 1 crore or double of any of the deposits under section 73, which is Rs. 10 crores
· Each
officer who is in the default jail is liable to 7 years and a fine not less
than Rs. 25 lakhs can grow up to. 2 crores.
· Under
Rule 21, the company and each officer are penalized by default, which is Rs.
5000 and where the violation is ongoing, Rs. 500 per day from default.
OTHERS
There is no established opinion, if the NIL return has been
filed, it would always be beneficial to take a conservative approach and file
the NIL return.
Regards
Santosh Patil
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