The DPT-3 form is the statement return required by any firm that has taken deposits under Section 73 of the Companies Act of 2013 (the "Act") and the rules implemented thereunder. Any money accepted from the general public (including members) is termed a public deposit in general.
DPT-3 is a return of deposits or transactions not deemed deposits or both, that must be reported by all companies other than the government. The purpose of this form is to provide information to the Registrar of Companies ('ROC') about the loan or money received by the firm.
Except for government entities, every corporation is required to file this return. Furthermore, the following firms are excluded under Rule 1(3) of the Companies (Acceptance of Deposits) Rules 2014:
1. Banking establishment
2. Non-Banking Financial Institutions
3. Any other firm as notified under proviso to paragraph (1) of Section 73 of the Act
1. Any sum received or guaranteed by the government, foreign government/foreign bank.
2. Any loan or facility acquired from a public financial institution, insurance company, or bank
3. Any sum received by a firm from another corporation.
4. Securities subscription and call in advance.
5. Any sum received from the company's director or a family of the company's director who held the positions at the time of the loan
6. Any money collected by the firm from an employee that does not exceed his yearly wage as specified in his work contract, such as a non-interest-bearing security deposit.
7. Any money received as an advance for the supply of goods or provision of services or as a security deposit for the fulfillment of the contract for the supply of goods or provision of services in the course of or for the company's activity.
8. A startup firm receiving Rs 25 lakh or more in the form of a convertible note in a single tranche.
9. Amount raised by issuing secured bonds or debentures with first charge, non-convertible debentures with no charge on the company's assets.
10. Promoters' unsecured loans.
11. Any sum received by the corporation from Nidhi Company or as a subscription for chit under the Chit Funds Act, 1982.
12. Any cash received by the firm from a SEBI-registered collective investment plan, alternative investment funds, or mutual funds.
13. Any additional money that does not qualify as a deposit under Rule 2(1) (c).
As a result, any sum, whether secured or unsecured, that is overdue money or a loan that is not deemed a deposit must be disclosed.
The DPT-3 form is classified into two types:
1. One-time Return
2. Annual Return
1. Auditors’ attestation
2. Where appropriate and specified in the form, a copy of the trust deed deposit insurance contract
3. a duplicate of the device that generates the charge
4. Depositors' List - A list of matured deposits and cheques issued but not yet cleared will be shown individually.
5. Information on liquid assets
6. Attachment is optional.
If the firm does not fulfill DPT-3 criteria and continues to take deposits, it will suffer the following consequences:
1. Section 73 imposes a penalty of Rs. 1 crore or twice the number of deposits, whichever is less, with a maximum penalty of Rs. 10 crore.
2. Every officer who is in default faces imprisonment for up to 7 years and a fine of at least Rs. 25 lakhs, which can be increased to Rs. 2 crores.
3. Under Rule 21, a punishment of up to Rs. 5,000 is imposed on the firm and each officer who is in default, as well as a fine of Rs. 500 for each day since the default.
The DPT 3 Form Definition- The DPT 3 Form is a return of deposits or particulars of transactions not considered deposits, or both, that every firm must file by June 30th of each year.
The DPT-3 Return is an annual return that must be filed on or before the 30th of June of the following year by any corporation with an outstanding loan as of the 31st of March of the previous fiscal year.
The Companies (Acceptance of Deposits) Amendment Rules, 2019 added Rule 16 to the Companies (Acceptance of Deposits) Rules, 2014. Dated 22nd January 2019, it states that any business to whom these rules apply must file a return in Form DPT-3 with the Registrar on or before the 30th day of June of each year, along with the fee as stipulated.
If a DPT 3 is submitted for a one-time return or an annual return for an outstanding amount, the Auditor's certificate is not required to be attached. However, if the corporation is submitting a DPT 3 for a return of the deposit, an auditor's certification is necessary.
No, NBFCs are not required to file e-form DPT-3.
The DPT-3 is an e-form used by all firms other than government entities to register deposits or particulars of transactions that are not deemed deposits, or both.
No, if there are no outstanding loans at the conclusion of the fiscal year, DPT-3 is not required.