RETURN OF DEPOSITS (FORM DPT-3)

 FILING OF FORM DPT-3 (RETURN OF DEPOSITS)

FILING OF RETURN OF DEPOSITS (FORM DPT-3):-

As per the provisions of Rule 16 of the Companies (acceptance of deposit) Rules, 2014, every company except Government Company, which is accepting deposits under the provisions of Section 72 & Section 76 of the Companies Act, 2013 is required to file Return of Deposits in Form DPT-3 with the ROC on an annual basis on or before 30th June of the immediate next Financial Year.

Further, every company which is engaged in the transactions which are not considered as deposits shall also file this form with ROC on or before 30th June of the immediate next Financial Year. Few examples of transactions which are not considered as deposits are:

(a) any amount received by the company from any other Company.

(b) any amount received from a person who at the time of  receipt of the amount was a director of the company or a relative of director of the Private company.

(c)  any amount standing in the financials as advance against supplies for a period not exceeding 365 days. i.e. Credit balance of Sundry Debtors.

 

So a company is required to file Form DPT-3 for both the purposes:

(1) Amount considered as deposits.

(2) Amount not considered as deposits.

 

If a company has both type of transaction during the FY i.e. which are considered as deposits and which are not considered as deposits, the company can report both type of transactions through a single form. There is no need to file separate form for reporting of transactions which are considered as deposits and transactions which are not considered as deposits. You can select the last option in point number 3 of the form as shown below, for reporting both type of transactions through a single form.

 



 

 

If the Company was not involved in any such transactions during the immediate preceding Financial Year, then the company is not required to file the Form DPT-3. There is no provision regarding filing of Nil return in this case. 

  Ø Details regarding Net worth of the Company:-

Details regarding the net worth of the company is also required to be disclosed in the Form.

 

The major question which comes up in this case is, of which FY the Net worth is to be disclosed?

In this regard it is to be noted that the net worth of the latest audited Balance sheet is to be disclosed. For instance if we are filing the Form DPT-3 For FY ending 31st March, 2022, then the due date for filing the form is 30th June, 2022 and if the Financial Statements for the FY 2021-22 have been audited before the date of filing the Form DPT-3, the Net worth to be disclosed in the form should relate to the FY 2021-22. On the other hand if the Financial Statements for the FY 2021-22 are not audited before the filing of the Form DPT-3, then the details of Net Worth to be disclosed in the Form should pertain to the FY 2020-21.

 

  Ø Additional Fees for Delayed Filing:-

MCA has prescribed the following additional fees for delayed filing of the Form DPT-3:

Period of delay

Additional Fees

Up to 30 days

2 times of normal fees

More than 30 days and up to 60 days

4 times of normal fees

More than 60 days and up to 90 days

6 times of normal fees

More than 90 days and up to 180 days

10 times of normal fees

More than 180 days

12 times of normal fees

 

  Ø Mandatory Attachments:-

      ·     Auditor’s certificate – Mandatory if purpose ‘Return of Deposit’ or ‘Return of Deposit and Particulars of transactions by a company not considered as deposit’ is selected.

        ·     Copy of trust deed – Mandatory if company has trust deed and details of same are mentioned in the form.

         ·     Copy of instrument creating charge – Mandatory if company has trust deed and details of same are mentioned in the form.

        ·     List of depositors - List of deposits matured, cheques issued but not yet cleared to be shown separately – Mandatory if company has balance of deposits outstanding at the end of the year.

 

  Ø Major FAQs:-


       1.   Which date shall be taken as the date of last closing of accounts while filing the          form for FY 2021-22?

     Ans:- The date of closing of account to be mentioned while filing the Form DPT-3 for            the FY 2021-22 shall be 31st March, 2022.

                                                                                                                                                                                     

        2.  While filing the form DPT-3 for FY 2021-22, which year’s Net Worth shall be               mentioned in column 8?

      Ans:  While filing the form DPT-3, net worth is mentioned on the basis of the last                audited Balance sheet of the company. So we will mention the net worth on the          basis of last audited balance sheet whether it is of the FY 2021-22 or 2020-21             or 2019-20 or any other financial year.

 

        3. If a company is having only exempted deposits, whether such company is                   required to file Form DPT-3?

     Ans: Yes, as per the provisions of Rule 16 of the Companies (acceptance of deposits)          Rules, 2014 a company is required to file form DPT-3 even in the case of                     exempted deposits also.

                                                                                                                                             

        4. Whether advances received against supplies be considered as exempted deposits         or not?

       Ans: If advances received against supplies from the customers are outstanding for a              period of less than 365 days, it shall be covered under exempted deposits.                      However, if they are outstanding for a period exceeding 365 days then they                    shall be considered as a loan and shall be treated as a normal deposit for the                  purpose of filing the Form DPT-3.

   

             5. What is the due date for filing the form DPT-3 for the FY 2021-22?

         Ans: The due date for filing the Form DPT-3 for the FY 2021-22 is 30th June, 2022.





Author

Vaibhav Pasrija

Qualification

CS Professional Student, Commerce Graduate, Undergoing Management Training

E-mail

Vpasrija93@gmail.com

Linked-in

Vaibhav Pasrija

Instagram

@Vaibhavpasrija

 

 

 

 

 

Disclaimer: The entire contents of this document have been prepared on the basis of relevant provisions and as per the information existing at the time of the preparation. Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, I assume no responsibility therefore. Users of this information are expected to refer to the relevant existing provisions of applicable Laws. The user of the information agrees that the information is not a professional advice and is subject to change without notice. I assume no responsibility for the consequences of use of such information. IN NO EVENT SHALL I SHALL BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL OR INCIDENTAL DAMAGE RESULTING FROM, ARISING OUT OF OR IN CONNECTION WITH THE USE OF THE INFORMATION

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