form-DPT-3

A company that has outstanding loans files a DPT 3 Form. The outstanding loans are not treated as deposits. Except for government firms, all companies registered in India need to file DPT 3 Form.

Who is excluded from return submission?

Filing of DPT 3

What is the Last Date to submit the form of DPT-3 filing? 

Documents for submission

Fees for applying DPT 3 form

Sample form of DPT- 3

Consequences of failure to submit DPT – 3 form 

Transactions and financial entries that are not considered as deposits

Who is excluded from return submission?

Except a government enterprise, each company must send this return. Also, the following companies are excluded as per Rule 1(3) of the Companies Regulations (Acceptance of Deposits) 2014:

  • Company of banking
  • Non – banking financial firms
  • Housing finance companies that are registered with the National Housing Bank
  • Any company registered under paragraph (1) to paragraph 73 of the Law

Filing of DPT 3

Two varieties of DPT 3 filing can include:

  • One time return
  • Annual return

What is the Last Date to submit the form of DPT-3 filing? 

According to the Companies Amendment Rules (Acceptance of Deposits), 2019, all organizations will be required to file the one-time deposit return in the DPT-3 form within 90 days of the end of the fiscal year, obligatorily.

Documents for submission

  • Certificate of Auditors
  • Trust deed copy
  • The contract for insurance deposit, where necessary and in the form specified
  • Copy of the charging instrument
  • List of custodians-List of custodians and issuing checks that have matured and not yet been cleared
  • Liquid asset descriptions
  • Optional attachment

Fees for applying DPT 3 form

Fees are payable in compliance with the laws of the Businesses (Registration Offices and Fee).

Sample form of DPT- 3

The DPT-3 sample of the Companies’ Amendment Rules (Acceptance of Deposits) 2019

Consequences of failure to submit DPT – 3 form

If the company does not comply with DPT-3 and fails to accept deposits, the following consequences will apply.

In compliance with Section 73

A minimum ₹ 1 crore penalty or twice as many lower deposits as can be applied to Rs 10 crore

For each of the officers, up to 7 years’ in case of the defaulter and no less than a fine of Rs. 25 lakhs, which can exceed Rs. 2 crores.

In compliance with Article 21

If the infringement persists, a fine of Rs. 500 can be levied on the company and each officer as usual for each day after a mistake has occurred.

Transactions and financial entries that are not considered as deposits

  • Any amount that is given due or guaranteed by the government, foreign government / external bank.
  • Any amount that any public finance institute, insurance companies or banks obtain as a loan or facility
  • Any amount that an enterprise received by any other company.
  • Securities subscription and pre-call.
  • Any amount obtained at the time of the loan from the director or the relative of the director of the private company.
  • Any sums acquired from the employee by the company not to exceed the employee’s annual salary, such as a deposit carrying no interest.
  • Any payment that has been received during or for the company’s operation as an advance for the delivery of products or service delivery or a deposit for protection to satisfy the supply of products or service contracts.
  • In a single tranche, a startup business earns Rs 25 or more in the form of a convertible bond.
  • Sum earned by first-charge issuing guaranteed bonds or debentures; non-convertible debentures not paid the company’s assets.
  • Promoters’ unsecured loans.
  • Any amount received in respect of Chit in compliance with the Chit Funds Law of 1982 or by way of subscription from Nidhi firm.
  • Any sum obtained by an enterprise from the investment collective agreement, alternative investment funds, or SEBI Mutual Funds.
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