DPT-3 RETURN OF DEPOSITS

DPT-3 RETURN OF DEPOSITS

Introduction:

Pursuant to Rule 16 of the Companies (Acceptance of Deposits) Rules, 2014

-every Company to which these rules apply;

-shall on or before the 30^th June, of every year;

-file with the Registrar, a return of deposits or particulars of transaction not considered as deposit or both in Form DPT-3;

-along with such fees as applicable;

-and furnish the information (duly audited) as on the last day of the F.Y. i.e., 31^st day of March.

Deposits:

As per Section 2(31) of the Companies Act, 2013, deposit includes any receipt of money by way of

• deposit or
• loan or
• in any other form by a Company

but does not include such categories of amount *as may be prescribed in consultation with the Reserve Bank of India.

*The list of categories of receipt of money or loan by a Company which shall not be considered as deposits is prescribed in Rule 2(1)(c) of the Companies (Acceptance of Deposits) Rules, 2014.

Every Company is required to file Form DPT-3, except:

• Government Company
• Banking Company
• NBFC
• Housing Finance Company
• Company which has NIL outstanding deposits/loans/amount not considered as deposits as on 31^st March

Auditor’s Certificate:

Statutory Auditor’s Certificate is required to be attached with the form only in the case when a return of deposits is filed i.e., the purpose of filing the form is either of the two:

• Return of Deposit
• Return of Deposit and Particulars of transactions by a company not considered as deposit

However, as a prudent practice the figures submitted in DPT-3 needs to be verified by a professional including auditor of the Company.

Certification:

There is no requirement of certification by CA/CS/CMA in Practice.

STP/ Non-STP:

 DPT-3 is a non-STP form, which means that it needs approval of the ROC.

Incorrect Prefill of Object Clause:

Upon prefill, if the object clause as appearing in the form doesn’t match the actual object clause of the Company, then in that matter stakeholders are advised to completely IGNORE it and avoid raising any tickets in regards to the same. Further, it is advisable to attach a clarification letter regarding incorrect display of object clause on the letter head of the Company duly signed by a director along with a copy of the MOA.

Figures to be mentioned in the case of newly incorporated Cos.:

If no audited accounts are available for the previous year, then filing the form with unaudited figures would suffice the purpose.

In such a case it is advisable to attach a clarification letter regarding usage of unaudited/provisional figures along with the reason, on the letter head of the Company duly signed by a director.

NIL Return:

There’s no requirement of filing NIL return.

Non-compliance:

• Additional filing fees: 2time to 12 times of the normal fees
• Punishment under Rule 21: The Company and every officer in default shall be punishable with fine which may extend to ₹5000 and where the contravention is a continuing one, with a further fine which may extend to ₹500 for every day after the first day during which the contravention continues.