Filing of Return of Deposit in e-form DPT-3 with Registrar of Companies

In order to govern the amount received by the company from various sources, MCA came up with e-form DPT-3 which shall be used for filing return of deposit or particulars of transactions not considered as deposit or both by every company other than government company, Non-Banking Financial Company and housing Finance Company by 30th June every year. 

Transactions not considered as deposits in terms of clause (c) of sub-rule 1 of rule 2 of The Companies (Acceptance of Deposits) Rules 2014

“Deposit” includes any receipt of money by way of deposit or loan or in any other form, by a company, but does not include –

 1. any amount received from the Central Government or a State Government, or any amount received from any other source whose repayment is guaranteed by the Central Government or a State Government, or any amount received from a local authority, or any amount received from a statutory authority constituted under an Act of Parliament or a State Legislature;

2. any amount received from foreign governments, foreign or international banks, multilateral financial institutions, foreign governments owned development financial institutions, foreign export credit agencies, foreign collaborators, foreign bodies corporate and foreign citizens;

3.    any amount received as a loan or facility from any banking company;

4. any amount received as a loan or financial assistance from Public Financial Institutions;

5.  any amount received against issue of commercial paper or any other instruments issued in accordance with the guidelines or notification issued by the Reserve Bank of India;

6.    any amount received by a company from any other company;

7. any amount received and held pursuant to an offer made in accordance with the provisions of the Act towards subscription to any securities;

8.   any amount received from a person who, at the time of the receipt of the amount, was a director of the company or a relative of the director of the Private company:

9.    any amount raised by the issue of bonds or debentures;

10. any amount received from an employee of the company not exceeding his annual salary under a contract of employment with the company in the nature of non-interest-bearing security deposit;

11. any non-interest-bearing amount received and held in trust;

12. any amount brought in by the promoters of the company by way of unsecured loan in pursuance of the stipulation of any lending financial institution or a bank subject to fulfillment of the certain conditions;

13. any amount accepted by a Nidhi company in accordance with the rules made under section 406 of the Act;

14. any amount received by way of subscription in respect of a chit under the Chit Fund Act, 1982 (40 of 1982);

15. any amount received by the company under any collective investment scheme in compliance with regulations framed by the Securities and Exchange Board of India;

16. an amount of twenty-five lakh rupees or more received by a start-up company, by way of a convertible note (convertible into equity shares or repayable within a period not exceeding five years from the date of issue) in a single tranche, from a person;

17. any amount received by a company from Alternate Investment Funds, Domestic Venture Capital Funds, Infrastructure Investment Trusts, Real Estate Investment Trusts and Mutual Funds registered with the Securities and Exchange Board of India in accordance with regulations made by it.

18. any amount received in the course of, or for the purposes of, the business of the company-

a)     as an advance for the supply of goods or provision of services

b)  as advance, received in connection with consideration for an immovable property under an agreement or arrangement;

c)     as security deposit for the performance of the contract for supply of goods or provision of services;

d)   as advance received under long term projects for supply of capital goods except those covered under item (b) above;

e)     as an advance towards consideration for providing future services in the form of a warranty or maintenance contract as per written agreement or arrangement;

f)  as an advance received and as allowed by any sectoral regulator or in accordance with directions of Central or State Government.

Some Important points to be noted: -

1. Where the company has not accepted any loan or deposit and has no outstanding as on 31st March, form DPT-3 need not to be filed.
2. Non filing of Form DPT 3 before due date would attract penalty of Rs. 5,000/- and Rs. 500 per day in case of continuing default.
3. While filing DPT-3 Net worth as per the latest audited balance sheet preceding the date of return shall be mentioned.
4. If a company is having outstanding Debtors/Creditors as on 31^st March the same is not required to be mentioned as the same is neither any loan nor any advance.
5. Auditor certificate is mandatory to attach only in case company has clicked on remote button “Deposit” or “Deposit and particular not considered as deposit”.
6. Remuneration payable to director is neither loan nor advance. Therefore, one can opine that it is not required to mention in DPT-3.
7. Even in case there is no change in amount of loan or advance in the current financial year as compared to previous financial year then also e-form DPT-3 is required to be filed.
8. As per Rule 16, figures mentioned in DPT-3 should be audited figure. Further, one can opine figures of DPT-3 should be same as mentioned in Financial Statement of Company.