01 Mar DPT-3 Submission Requirements for Companies under the Companies Act 2013
The Definition of Form DPT 3
Form DPT-3 serves as the official statement return mandated for submission by every company, excluding government entities, and specified classes of companies, that have accepted deposits under section 73 and its accompanying regulations. Essentially, any sum obtained from the public, inclusive of members, is categorized as public deposits. DPT-3 functions as a report on deposits or transactions not categorized as deposits, which every company except government-owned ones must file. Its purpose is to furnish the Registrar of Companies with comprehensive data regarding loans or funds received by the company.
Objectives of DPT 3
The primary objective behind introducing the electronic form DPT 3 is to streamline the process of return filing, encompassing both disclosures of receipts deemed as deposits and those not categorized as such under the Companies Act 2013.
Submission Protocol for DPT 3
DPT 3 submissions are bifurcated into two categories:
- One-time return
- Annual return
Exemptions from DPT 3 Filing
With the exception of government-owned companies, every other company is obligated to file DPT 3. Additionally, as per Rule 1(3) of the Companies (Acceptance of Deposits) Rules 2014, certain companies are exempted from DPT 3 filing, including banking companies, non-banking financial companies, housing finance companies registered with the National Housing Bank, and any other entities as notified under the proviso to subsection (1) of section 73 of the Act.
Required Documentation
Submission of the following documents is imperative:
- Auditor certificate
- Trust deed
- Copy of instrument creating the charge
- List of depositors, with deposits matured and cheques issued but not yet cleared shown separately
- Optional attachments
Details Necessary for Completing Form DPT 3
The following particulars must be furnished in Form DPT 3:
- CIN of the company
- Company's email ID
- Company's objectives
- Net worth
- Particulars of any charge (if applicable)
- Total outstanding amount
- Details of credit rating
Due Date for Form DPT-3 Filing
In compliance with Rule 16 of the Deposit Rules, the yearly return must be filed on or before 30th June every year with the registrar. Furthermore, as per Rule 16A(3) of the Deposit Rules, the one-time return was required to be filed within 90 days from March 31st, 2019, encompassing the outstanding amount from 1st April 2014 to 31st March 2019, due on June 29th, 2019. The upcoming Due-Date is 30th September, 2020.
Penalties for Noncompliance under Various Sections
Section 73 outlines penalties for noncompliance, including fines up to 10 Crore, or twice the amount of deposits (whichever is lower), along with imprisonment for up to 7 years for officers in default. Additionally, Rule 21 stipulates a fine of up to 5000 for the company and every officer in default, with additional fines for continuing contraventions.
Fee Structure for DPT 3
The fee for filing Form DPT 3 is contingent upon the company’s paid-up capital, as outlined below:
- For companies with a nominal share capital less than 1,00,000, the fee is Rupees 200 per document.
- For companies with a nominal share capital ranging from 1,00,000 to 4,99,999, the fee is Rupees 300 per document.
- For companies with a nominal share capital ranging from 5,00,000 to 24,99,999, the fee is Rupees 400 per document.
- For companies with a nominal share capital ranging from 25,00,000 to 99,99,999, the fee is Rupees 500 per document.
- For companies with a nominal share capital of 1,00,00,000 or more, the fee is Rupees 600 per document.
- For companies without share capital, the fee is Rupees 200 per document.
Transactions Exempted from Deposits
Several transactions are not considered deposits under the Companies (Acceptance of Deposits) Rules 2014, including amounts received from government entities, loans or facilities from public financial institutions, subscriptions to securities, and advances for business purposes. It is imperative to report all outstanding sums or loans, whether secured or unsecured, that do not fall under the deposit category.
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