Introduction:
In India, the Ministry of Corporate Affairs (MCA) mandates certain reporting requirements for companies under the Companies Act, of 2013. Form DPT-3 is related to the reporting of deposits and outstanding loans taken by a company. The purpose of Form DPT-3 is to report details of transactions that are treated as deposits under the Companies Act, 2013. Companies are required to report outstanding receipts of money or loans that are not considered deposits.
What is Form DPT-3?
Form DPT-3 refers to a form required to be filed under the Companies Act, 2013 in India. Form DPT-3 is used for reporting information about outstanding loans, deposits, and certain transactions by a company. The form is used to report details of the company's outstanding loans or borrowings, outstanding deposits, and other transactions that are not considered deposits but fall under the scope of the form.
Form DPT-3 is filed annually by companies and contains information about transactions such as:
1. Outstanding loans received by the company, including details of the lender, amount, terms, and purpose.
2. Outstanding deposits accepted by the company, including details of the depositor, amount, terms, and purpose.
3. Any other outstanding transactions or arrangements not considered as deposits, but which fall within the scope of the reporting requirements.
Advantages of Submitting Form DPT-3:
The advantages of submitting Form DPT-3 include:
1. Compliance with Legal Requirements: Submitting Form DPT-3 ensures that the company complies with the legal requirements of the Companies Act, 2013. Failure to comply could result in penalties or legal consequences.
2. Transparency and Accountability: By submitting Form DPT-3, the company provides transparency about its financial transactions, specifically those related to deposits. This enhances accountability and builds trust among stakeholders, including shareholders, investors, and creditors.
3. Avoiding Penalties: Companies that do not submit Form DPT-3 within the stipulated time may face penalties and fines. By submitting the form on time, a company can avoid these financial repercussions.
4. Avoiding Legal Issues: Non-compliance with statutory requirements can lead to legal issues and disputes. By submitting Form DPT-3, a company can minimize the risk of legal challenges related to deposit transactions.
5. Maintaining Good Corporate Image: Complying with legal requirements, including the submission of necessary forms, helps in maintaining a positive corporate image. This can be crucial for attracting investors, customers, and business partners.
6. Regulatory Approval and Licensing: Some business activities may require regulatory approval or licensing, and compliance with statutory requirements such as Form DPT-3 can be a prerequisite for obtaining these approvals.
7. Access to Capital: If a company is seeking to raise funds through loans or deposits, compliance with Form DPT-3 requirements can assure potential lenders and depositors, making it easier to secure financing.
List of companies that are exempted from filing form DPT-3 MCA:
The companies exempted from filing form DPT-3 are-
Government Companies
Banking Institutions
Companies registered as housing finance companies under the supervision of the National Housing Bank.
Companies notified explicitly under subsection (1), section 73 of the Companies Act.
Non-banking financial companies
Laws governing form DPT-3 MCA:
As per Rule 16A(3) of the Companies (Acceptance of Deposit) Rules, 2014 "every company other than Government company shall file a onetime return of outstanding receipt of money or loan by a company but not considered as deposits, in terms of clause (c) of sub-rule 1 of rule 2 from the 01 51 April 2014 to the date of publication of the notification in the Official Gazette, as specified in Form DPT-3 within nineteen days from the date of said publication of this notification along with the fee as provided in the Companies (Registration Offices and Fees) Rules, 2014". It is stated that the additional fee, as specified under the Companies (Registration Offices and Fees) Rules, 2014, shall be assessed after 30 days from the date of deployment of the DPT-3 form on the MCA 21 portal. This is to prevent inconvenience to stakeholders due to a variety of factors, while also allowing for the deployment of the DPT-3 Form on the MCA 21 portal.
When to file DPT-3 MCA return?
A company that is not a government entity must submit a return of deposits in web form DPT-3 to the RoC on or before the 30th day of June every year, providing all information as of the 31st day of March of that year, which has been duly audited by the company auditor. Additionally, a one-time return of money or loans received by a company but not considered deposits between 1 April 2014 and 31 March 2019 must be filed within 90 days of that date, along with the fee specified in the Companies (Registration Offices and Fees) Rules, 2014.
Fees paid to the ROC by filing e-form DPT-3:
The fees paid for the companies having share capital will be according to the categorization mentioned below-
The fee of share capital > 10000 is Rs. 200
The fees of share capital between 100000 to 499999 is Rs. 300
The fees of share capital between 500000 to 2499999 is Rs. 400
The fees of share capital between 2500000 to 9999999 is Rs. 500
The share capital < 10000000 is 600
Documents required for filing e-form DPT-3 MCA:
These are the following documents required for filing e-form DPT-3 MCA:
1. Company Details:
• Corporate Identification Number (CIN) of the company.
• Name and registered office address of the company.
2. Details of Outstanding Loans and Deposits:
Particulars of outstanding loans and deposits as on the date of the balance sheet.
3. Attachments:
Copies of the relevant resolutions or agreements where the loan or deposit terms were approved.
Copy of the trust deed, if any, creating a charge or any other instrument creating a charge.
Copy of the instrument evidencing the creation of the charge for debentures.
4. Loan or Deposit Register:
Companies were often required to maintain a register of deposits or loans, which should be duly updated and maintained.
5. Auditor's Certificate:
Certificate from the company's auditor confirming that the company has not defaulted in the repayment of deposits or interest thereon.
6. Director's Report:
The director's report as part of the annual financial statements may contain relevant information about outstanding loans and deposits.
7. Annual Return:
Extract of the annual return of the company containing details of deposits and loans.
8. Other Relevant Documents:
Any other documents or information as required by the MCA.
Process for filing e-form DPT-3 MCA:
Here's a general outline of the process for filing E-Form DPT-3:
Preparation: Gather all the required information and documents related to outstanding loans, deposits, or borrowings by the company. This might include details about the lenders, the terms of the loans, and any security provided.
Digital Signature Certificate (DSC): Ensure that the person signing the e-form (usually a director or a company secretary) has a valid Digital Signature Certificate (DSC). This is necessary for digitally signing the form.
Access the MCA Portal: Visit the official MCA portal (https://www.mca.gov.in/) and log in with your credentials. If you're not registered, you'll need to create an account.
Navigate to E-Form DPT-3: After logging in, navigate to the "E-Forms" section or the section related to filing forms.
Fill Out the Form: Select Form DPT-3 from the list of available forms. Fill out all the required fields in the form accurately. This might include details of outstanding loans, deposits, and any other necessary information.
Attach Supporting Documents: Attach any required supporting documents, such as loan agreements, deposit details, or other relevant documents. These documents might be required to substantiate the information provided in the form.
Review and Validation: Review all the information and documents to ensure accuracy and completeness. The MCA portal might also have built-in validation checks that ensure the form is filled out correctly.
Submit and Payment: Once you're confident that all the information is accurate, submit the form. You might need to make the payment of the requisite filing fees, if applicable, through the MCA portal.
Digital Signature: The person signing the form will need to digitally sign the form using their valid Digital Signature Certificate (DSC). This step ensures the authenticity of the submission.
Acknowledgment and Tracking: After successful submission, you will receive an acknowledgment with a unique transaction number. This can be used to track the status of the form submission.
Approval and Compliance: The MCA will process the form and may require additional information or clarification. Ensure that you respond promptly to any communication from the MCA.
Conclusion:
Hence, Form DPT-3 is a form required to be filed with the Ministry of Corporate Affairs (MCA) in India. It pertains to the return of deposits and transactions not considered as deposits as per the Companies Act, 2013. Every Company other than a government company is required to submit a fee by the Companies (Registration Offices and Fees) Rules, 2014, and any pending receipts of funds or loans by a company that are not considered deposits, as detailed in Form DPT-3 MCA, within a window of 90 days starting on April 1, 2019. The Ministry of Corporate Affairs has devised several forms in which a company must provide information to monitor activities and safeguard the interests of all stakeholders. The Companies Act 2013, which went into effect, supports these types.
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