New Government Notification
As per General Circular No. 5/2019, Every company other than the Government company and other few prescribed companies* who has outstanding receipts of Money or Loan between the date of 1/4/2014 to 31/03/2019 but not classified it as a Deposits and still outstanding (pending) on 31/03/2019,then these companies have to file One time
Return form DPT-3.
The Return has to be filed in Form DPT-3 within 90 days of notification of Companies
Filing of DPT-3
For filing Dpt-3 ,Two ways has been prescribed that are:
One-time return- 01.04.2014 to 31.03.2019 (Amount received and outstanding)
Annual Return– Before 01.04.2018 to 31.03.2019 (Amount outstanding)
Form DPT-3 Due Date
It is to filed on or before 30 june 2019 and there is no extension has been given for its relaxation . In case of Nil Return, no requirement of filing Nil Return in Form DPT-3 .
Exempted Companies(No need to file DPT-3)
Form DPT-3 is not required to be filed by the below mentioned companies that are:-
Government Company
Banking company
NBFC
Housing Finance company
Other Prescribed company
Note:- If the amount / Money /Loan has been taken from the promoter ,then that amount also be reported in Form Dpt-3 although they are exempted Deposits.
Documents required to be annexed with form DPT-03
Along with the form DPT-3, the following documents also required to be supported while applying for form DPT-3, that are:-
Auditor’s Certificate in prescribed format
Last Audited Balance Sheet
Reporting Year (Financial Year)
The company has to disclose the amount outstanding on 31/03/2019 in form DPT-3 irrespective of the fact that it is April to March or January to December.
Advance Money Received for Goods Supply:
The advance received towards supply of goods up to 365 days will be treated as exempted Deposits and if received Advance beyond 365 days it will be treated as deposits and same should be disclosed in DPT-3
Compulsorily Convertible Debentures: Any Compulsorily Convertible debentures issued beyond 10 years then it will be treated as deposits and the same has to be disclosed in DPT-3.
Borrowings from Bank: Borrowings from bank shall be treated as deposit if the same gets Covered under Rule 2(1) (c) and it has to be disclosed in DPT-3
Repayment of Deposits: Any amount outstanding has been received by the company to be repaid on a particular date but could not be repaid due to any Governmental order, accordingly that has to be deemed as Deposits and DPT-3 along with Attachments will be filed.
Share Application Money: Share Application money pending after 60 days will be considered as deposits even if it is received under Companies Act, 1956 and the Application Money pending for less than 60 days will be considered as exempted deposits.
Penalty for Non Filing DPT-3
On the company:
Minimum fine can be Rs. 1 Crore or two times of the amount of deposit so accepted, whichever is lower, subject to Rs. 10 Crore; and
On the officers of the Company who is in default: imprisonment up to 7 years and with a fine of not less than Rs. 25 lakh which may extend to Rs. 2 Crore.
DPT-3 required filing for Secured or Unsecured Loan
Even, DPT-3 is required for filing for loan either they are secured and unsecured loan.
DPT-3 required for ECB (EXTERNAL COMMERCIAL BORROWING)received by Company
Accordingly, DPT-3 is also required to file by each company in respect of each loan accepted. Suppose , if Company has accepted ECB in such case also ,Company has to mandatory file, e-form DPT-3.
The company received loan from Holding Company or Subsidiary Company or Associate Company. Whether company need to file DPT-3
Even in case of Company accepting Loan from either of its subsidiary or its holding company would have to file e-form DPT-3 even for loan received from Holding Company / Subsidiary Company and Associate Companies
Role of Net worth in DPT-3:-
Actually Net worth recorded in DPT-3 is different from Net Worth defined in definition .As Intangible Assess recorded in Net Worth for Dpt-3 is not recorded in the General Financial Statement .So there might be chances that Net Worth filled in Form AOC-4 and in Form DPT-3 could be different.Accordingly , It is advisable to
attach Clarification on that.