A Guidance Note for filing of Form-DPT-3

Subsequent to amendment in the Companies (Acceptance of Deposits) Rules, 2014 (refer MCA notification dated 22nd January, 2019), filing of Form DPT-3 is now mandatory for every Company other than Government Company.

In accordance with this amendment Companies has to file Form DPT-3 for the year ended 31st March, 2019 on or before 30th June, 2019. Apart from this a onetime Return needs to be filed for the period from 1st April, 2014 to 31st March, 2019 for the balance outstanding as on 31st March, 2019 out of amounts received during this period.

Before starting the filling of form you are requested to go through “Rule (1) (c) of the Companies (Acceptance of Deposit) Rules, 2014” to have some insight on the transactions which are not considered as deposit. Various Points to be keep in mind while filling Form DPT-3 are given below:

Form DPT-3-One Time Return
The One time Return filed for outstanding amount of money received and not classified as deposit, should only include money received on or after 1st April 2014 and the amount should have remained outstanding as on 31st March 2019, due date for this One Time Return is 29th June, 2019.

Form DPT-3-Annual Return
The yearly return filed for outstanding amount of money received as both deposit and exempted deposit from the date of incorporation and which is outstanding as on 31 March 2019. Annual Return in Form DPT-3 has to be filed on or before 30th June of every year.

NIL return
There is no requirement to file NIL return in Form DPT-3.

Approval process at ROC
E-form DPT-3 is not an STP return, and the same will be processed by the officials of Ministry of Corporate Affairs before providing Approval.

Exemptions
Non-Banking Financial Company registered with Reserve Bank of India and Government Company is exempted from filing DPT-3. However insurance companies will not be eligible for such exemption as they are not registered with RBI.

Auditor Certificate
Auditor`s Certificate has to be attached only if the eForm DPT-3 is filed w.r.t radio button 2 & 4 i.e. for Return of Deposit (or) for both return of deposit and exempted deposit. If DPT-3 is filed only as one time return or yearly return (only for the transactions not considered as deposit as per rule 2 (1) (c) of the Companies (Acceptance of Deposit) Rules, 2014), then auditor certificate is not mandatory. There is no prescribed format for Auditor Certificate.

Audited Financials
Audited figures are not mandatory for eForm DPT-3, however accounts must be complete for providing accurate figures in Form DPT-3.

Interest and Principal
Amount Outstanding to be filled in DPT-3 shall include both Principal and Interest Amount as on 31st March, 2019.

Form DPT-4
The Amount outstanding before 01st April 2014 which was considered as exempt under 1956 Act but not under 2013 Act should be reported in DPT-4 and must be repaid as per the Act. Else consequences as prescribed for violation of Acceptance of Deposit Rule will be attracted.

Loan from Director
Any Loan received from the Director during his tenure but later resigned himself as director and the amount so borrowed is outstanding will be considered as Exempt Deposit. The Unsecured Loan has to be shown under the head 15(h) of the Form.

Object Clause
In case the Object Clause in DPT-3 does not match with Company`s MOA then the Company need not alter the object clause by filing MGT-14. The difference could be because of the CIN Allotted under Companies Act, 1956 and NIC Code. The Company shall proceed to file DPT-3 even if object clause does not match with MOA.

Net Worth
Net Worth is to be considered as per the audited financials of 31st March 2018 and for the newly incorporated company Net worth is to be considered as per current balance sheet whether Audited or Not. Further, Net worth has to be calculated as provided under Companies (Acceptance of Deposits) Rules, 2014 and not as per Companies Act definition.

Share Application Money
Share Application money pending after 60 days will be considered as deposits even if it is received under 1956 Act and the Application Money pending for less than 60 days will be considered as exempted deposits.

Government Company
The Company which is actually a government company but not shown as Government Company in the MCA has to still file DPT-3 though DPT-3 is exempt for Government Company. The Company shall get exemption only if the same is rectified with Ministry of Corporate Affairs.

Promoter
Amount taken from promoter though considered as exempt Deposits, the same has to be filed as exempt deposit under DPT-3 if it is Outstanding.

Financial Year
The Company has to disclose the amount outstanding in DPT-3 as on 31st March 2019, irrespective of their Financial Year whether it is April to March or January to December.

Advance for Supply of Goods
The advance received towards supply of goods up to 365 days will be treated as exempt and beyond 365 days it will be treated as deposits and same should be disclosed in DPT-3

Government Subsidy
Any Subsidy received from government is outstanding as on 31st March 2019 and the same is considered as deposit as per Rule 2(1)(c) of Companies (Acceptance of Deposits) Rule, 2014.

Loan from NBFC
Loan amount received from a NBFC shall be disclosed as money received from other company in form DPT-3.

Compulsorily Convertible Debentures
Any Compulsorily Convertible debentures issued beyond 10 years then it will be treated as deposits and the same has to be disclosed in DPT-3.

Repayment of Deposits
Any amount outstanding has been resolved by the company to be repaid on a particular date but could not be repaid due to any Governmental order the same has to be treated as Deposits and DPT-3 has to be filed along with the said order has attachment.

Borrowings from Bank
Borrowings from bank shall be treated as deposit if the same gets Covered under Rule 2(1)(c) and it has to be disclosed in DPT-3

Strike off or Liquidation
The Company has to File DPT-3 unless the Ministry of Corporate Affairs reflects that the Company has been struck off.

Certification
Form DPT-3 is not required to be certified by a professional.