Everything about DPT-3 form – Meaning, Procedure and FAQs

If you are still scratching your head over the DPT–3 form, then we have good news for you. This article has been written to provide every minute detail about the meaning and filing of DPT–3 forms as issues by the Ministry of Corporate Affairs (MCA).

Let us discuss them in detail:

Meaning of DPT-3

DPT–3 form is the statement return which is required to be filed by every company other than a government company which has accepted deposits as per the definition mentioned in section 73 and rules made thereunder. Generally, every amount accepted from public (including members) is treated as public deposits.

DPT–3 form is filed in terms of rule 16 of Companies (Acceptance of deposit) rules.

One-time DPT–3 form - New

As said above, the DPT–3 form is only required to be filed by the companies who have accepted deposits. However, in January, 2019, the Ministry of Affairs (MCA) has issued a notification and inserted another rule, 16A.

As per the rule, 16A, every company (other than Government Company) has to file a ONE TIME RETURN for transactions which are not considered as deposits. Hence, doesn’t matter if you are a small company or one person company, filing of DPT 3 form is mandatory.
 

Companies NOT required filing the form DPT–3

There are certain companies which are not required to file the Form DPT–3. The list of the companies is as follows;

• Banking companies;
• Non-Banking Finance Companies (NBFC)
• A housing finance company
• Others as notified.

The above companies are not required to file because the new rule gets power from section 73, and the above exemptions are provided in section 73 itself.

Due date of filing the form DPT-3

The due date for filing of form DPT–3 has been extended to 29^th June 2019. However, it is advised to file the form well before it to avoid the high-pressure time.

Whether companies with zero transaction are required to file the DPT -3 form?

Ideally, the answer is no. The companies with zero transactions are not required to file the form DPT–3 because the rule 16A applies to companies which have received the money not recognized as deposits.

However, to be on a safer side, it is advised to file the form with zero figures.

Attachment required with the form DPT-3

Here are the following attachments required with the DPT–3 form;

• Auditor’s certificate (Download format)
• List of depositors
• Other optional details
   

Procedure for filing the one-time DPT–  form

Here is the procedure of filing the form DPT – 3 with the ministry of corporate affairs (MCA).

1. Ready the details

Keep the audited balance sheet of the company handy and the details of total amount outstanding on 31^st March, 2019 which is received by the company but not recognized as deposits.

2. Download the form

In the first step, just go to mca.gov.in and download the form DPT – 3.

3. Prefill the details

Enter the CIN number of the company and Prefill all the basic details like name, address and email.

4. Fill the information as required

Fill all the required information correctly from the right resources to avoid any clerical or non-clerical error. Keep the following things in mind while filling the form DPT–3;

• Choose the appropriate purpose of filing.  Select the first option in case you want to file the one-time DPT–3 form.
• Choose your type of company; Public or Private.
• Make sure you fill all the mandatory information.
• You can skip all the non-mandatory information.
• Attach the supporting documents like audited balance sheet and auditor’s certificate.

5. Sign the form DPT–3

After all the information has been filled, recheck the form and sign it with the digital signature.

6. Upload and done

After signing it with the digital signatures of the director, upload the form on mca.gov.in and the process is complete.

Frequently Asked Questions (FAQs) on DPT-3
 

1. What is the cut-off date to enter the figures?

The cut-off date is 31.03.2019. Earlier, it was 22.01.2019 but after the amendment notification issued by the MCA dated 30.04.2019, the cut-off date has been revised to 31.03.2019 since the Form was not deployed earlier.
 

2. What is the penalty in case the Company doesn’t file the Form?

As per Rule 21 of the Companies (Acceptance of Deposits) Rules, 2014, if any Company has defaulted in compliance of any provision as mentioned in the Deposits Rules for which no punishment is provided in the Act, the company and every officer of the company who is in default shall be punishable with fine which may extend to five thousand rupees and where the contravention is a continuing one, with a further fine which may extend to five hundred rupees for every day after the first day during which the contravention continues.

We have tried to cover the details about DPT-3 form in as much as detail we can, in case you have any query or want any help related to filing of DPT-3 form do reach us. 

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