{"id":50707,"date":"2022-11-15T18:12:10","date_gmt":"2022-11-15T12:42:10","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=50707"},"modified":"2023-04-10T17:57:19","modified_gmt":"2023-04-10T12:27:19","slug":"dpt-3-form-meaning-filing-and-penalties","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/dpt-3-form-meaning-filing-and-penalties\/","title":{"rendered":"DPT 3 Form: Meaning, Filing, and Penalties"},"content":{"rendered":"\n<p>DPT 3 form refers to a one-time return application of loans owed by\nthe organization. The non-deposit amount owed by the company is treated as an\noutstanding amount. The applicability of DPT 3 is only limited to debt\/loan\nowed by the company and hence it has nothing to do with the deposit of the\ncompany. Ministry of Corporate Affairs has made it compulsory for all companies\n(non-government entities) to file one-time returns against the outstanding\nreceipts of money treated as loans, and not as a deposit. <\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/dpt-3-form-meaning-filing-and-penalties\/#Background_of_DPT_3_Form\" >Background of DPT 3 Form<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/dpt-3-form-meaning-filing-and-penalties\/#The_advent_of_DPT_3_Form\" >The advent of DPT 3 Form<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/dpt-3-form-meaning-filing-and-penalties\/#For_whom_DPT_3_Form_filing_is_not_mandatory\" >For whom DPT 3 Form filing is not mandatory<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/dpt-3-form-meaning-filing-and-penalties\/#Transactions_that_do_not_fall_under_the_deposit_category\" >Transactions that do not fall under the deposit category<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/corpbiz.io\/learning\/dpt-3-form-meaning-filing-and-penalties\/#Timeline_of_return\" >Timeline of return<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/corpbiz.io\/learning\/dpt-3-form-meaning-filing-and-penalties\/#Important_enclosures_of_DPT_3_form\" >Important enclosures of DPT 3 form<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/corpbiz.io\/learning\/dpt-3-form-meaning-filing-and-penalties\/#Documents_to_be_submitted_along_DPT_3_form\" >Documents to be submitted along DPT 3 form<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/corpbiz.io\/learning\/dpt-3-form-meaning-filing-and-penalties\/#What_if_the_company_skips_the_DPT_3_form_filing_requirement\" >What if the company skips the DPT 3 form filing requirement?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/corpbiz.io\/learning\/dpt-3-form-meaning-filing-and-penalties\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Background_of_DPT_3_Form\"><\/span>Background of DPT 3 Form <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>To protect the interest of depositors or creditors, the Indian\ngovernment in association with RBI released the amendment in the Companies\n(Acceptance of Deposits) Rules 2014 via Companies (Acceptance of Deposits)\nAmendment Rules 2019.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_advent_of_DPT_3_Form\"><\/span>The advent of DPT 3 Form <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>MCA (through a notification released on 22nd January 2019) directed\nthat every non-government company should mandatorily file a one-time return in\nDPT 3.&nbsp; Annual filing of this form is\nalso compulsory. The sub-rule was appended post-sub-rule (2) in Rule 16A of\nCompanies (Acceptance of Deposits) Rules, 2014 that specifies as shown below: <\/p>\n\n\n\n<p>Every non-government company should mandatorily file a one-time\nreturn concerning outstanding receipt of loans or money by the company but not\ndeemed as deposits, given clause (c) of sub-rule 1 of rule 2 from 01-Apr-2014\nto 31-Mar-2019, as mentioned in DPT 3 form within 90 days from 31-Mar-2019\nalong with a fee as prescribed in the Companies (Registration Offices and Fees)\nRules, 2014.<\/p>\n\n\n\n<p>The said timeline was then altered, which was shared publicly via\nGeneral Circular No.05\/2019. The circular confirmed that the supplementary fee\nshall be imposed post-30 days from the advent of the DPT 3 form on the MCA\nportal.&nbsp; Thus, the revised due date was\n31-05-2019. Since then, annual filing of the form has become mandatory. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"For_whom_DPT_3_Form_filing_is_not_mandatory\"><\/span>For whom DPT 3 Form filing is not mandatory<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Every non-government company falls under this return filing\nrequirement. In addition, according to Rule 1(3) of the Companies (Acceptance\nof Deposits) Rules 2014, the given entities have nothing to do with this return\nfiling requirement: <\/p>\n\n\n\n<ul><li>Banking company<\/li><li><strong><a class=\"text-primary\" href=\"https:\/\/corpbiz.io\/nbfc-registration\">Non-Banking Financial Company<\/a><\/strong> (NBFC) <\/li><li>National Housing Bank-certified housing finance company<\/li><li>Any other entity reported under proviso to subsection (1) to section 73 of the Act<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Transactions_that_do_not_fall_under_the_deposit_category\"><\/span>Transactions that do not fall under the deposit category <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>Any amount coming from the\ngovernment or foreign government\/foreign bank<\/li><li>Any amount coming as a loan or\nfacility via any Public financial agencies, banks, or insurance companies<\/li><li>Any amount coming via a company\nby a company<\/li><li>Call in advance and\nsubscription to securities. <\/li><li>Any amount coming via the\ncompany\u2019s director or a relative of the director managing affairs of the\nPrivate ltd co<\/li><li>Any amount coming via an\nemployee, not surpassing his\/her annual salary under the employment contract <\/li><li>Any amount coming in the course\nof the business as an advance for the supply of services or goods or as a\nsecurity deposit for the contract\u2019s performance concerning the supply of goods\nor provision of services<\/li><li>Receipt of Twenty-five lakhs\nrupees or more by a startup entity via a convertible note, in a single tranche.\n<\/li><li>Amount procured via the\nissuance of secured bonds or debentures with the first charge, non-convertible\ndebentures without charge on the company\u2019s assets. <\/li><li>Unsecured loans via promoters <\/li><li>Any amount came via a Nidhi\ncompany or via a subscription relating to chit under the <strong>Chit funds Act 1982<\/strong><sup><a class=\"text-primary\" href=\"https:\/\/www.indiacode.nic.in\/bitstream\/123456789\/1797\/1\/A1982-40.pdf\"><strong>[1]<\/strong><\/a><\/sup><\/li><li>Any amount received via the\ncompany in the form of an alternate investment fund, collective investment\nscheme, or SEBI-registered mutual funds <\/li><li>Any other amount which does not\nfall under the deposit category under Rule 2(1)(c) <\/li><\/ul>\n\n\n\n<p>Therefore, any amount, be it secured or unsecured, which is an\noutstanding loan or money that does not fall under the deposit category must be\nreported.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Timeline_of_return\"><\/span>Timeline of return<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The one-time return should be mandatorily filed for a period\ncommencing from 01-04-2014 to 31-03-2019. Thus, all receipts procured in the\nsaid timeline and outstanding as of 31-03-2019 had to be reported. The yearly\nreturn is for the timeline from 01-04-2019 to 31-03-2020. The return shall\nenclose all amounts to be paid as on the date. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Important_enclosures_of_DPT_3_form\"><\/span>Important enclosures of DPT 3 form <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The followings are the details to be furnished in the DPT 3 form: <\/p>\n\n\n\n<ul><li>CIN of the company<\/li><li>Email address <\/li><li>Objects of the company<\/li><li>Company\u2019s net worth <\/li><li>particulars of charge, if any<\/li><li>The overall outstanding amount\nas of 31-03-2020, <\/li><li>Particulars of credit rating<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Documents_to_be_submitted_along_DPT_3_form\"><\/span>Documents to be submitted along DPT 3 form <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>Auditors certificate <\/li><li>Trust deed\u2019s copy<\/li><li>Deposit Insurance contract,\nwherever required and prescribed in the form<\/li><li>Copy of instrument creating the\ncharge<\/li><li>Depositors\u2019 list \u2013 List of\ndeposits matured and cheques granted but not yet cashed to be reflected\nseparately <\/li><li>Liquid assets\u2019 detail<\/li><li>Optional attachment <\/li><\/ul>\n\n\n\n<p><strong><em>Note: The payable fees should be in accordance with the Companies\n(Registration Offices and Fees) Rules.&nbsp; <\/em><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_if_the_company_skips_the_DPT_3_form_filing_requirement\"><\/span>What if the company skips the DPT 3 form filing requirement? <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>If the company skips the DPT 3 form filing requirement, the\nfollowing penalties may come into effect. <\/p>\n\n\n\n<ul><li>Under Section 73, A penalty\namounting to Rs 1 crore or double the amount of deposits whichever is\nlower,&nbsp; which may go up to Rs. 10 crores.\n<\/li><li>The defaulting officer may have\nto face a jail term of 7 years alongside a monetary penalty amounting to not\nless than Rs 25 lakhs, which may go up to Rs 2 crores. <\/li><li>Under Rule 21, every company\u2019s\nofficial in default shall confront a monetary penalty extending up to Rs 5000.\nIn case the continuing contravention prevails, a per-day penalty of Rs 500 shall\ncome into effect.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>It is evident that the penalties for non-filing of DPT 3 form are severe and could put a dent in the company\u2019s credibility. Therefore, timely filing of the same is of paramount importance for every eligible company. It\u2019s worth noting that the DPT 3 form filing is a way to disclose the outstanding amount owed by the company in the form of a loan, not in the form of a deposit. <\/p>\n\n\n\n<p class=\"text-left\"><b>Read Our Article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/compliances-cum-rules-for-pvt-ltd-company\/\">Compliances cum Rules for Pvt Ltd Company: A Detailed Outlook<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>DPT 3 form refers to a one-time return application of loans owed by the organization. The non-deposit amount owed by the company is treated as an outstanding amount. The applicability of DPT 3 is only limited to debt\/loan owed by the company and hence it has nothing to do with the deposit of the company. [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":50709,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[120],"tags":[2864],"acf":{"service_id":"321"},"authorName":"Pankaj Tyagi","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2022\/01\/MicrosoftTeams-image-42.jpg","authorDescription":"Pankaj has a diverse experience of writing research papers, blog, and articles during his college time. Earlier, he was working as a tax consultant in a financial firm, but his interest in writing drives him to pursue a career in the writing field.","postViews":7682,"readingTime":4,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/50707"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=50707"}],"version-history":[{"count":3,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/50707\/revisions"}],"predecessor-version":[{"id":54820,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/50707\/revisions\/54820"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/50709"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=50707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=50707"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=50707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}