{"id":56279,"date":"2023-05-04T18:49:06","date_gmt":"2023-05-04T13:19:06","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=56279"},"modified":"2023-05-04T18:49:33","modified_gmt":"2023-05-04T13:19:33","slug":"what-is-form-dpt-3-mca-and-how-to-file-it","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/what-is-form-dpt-3-mca-and-how-to-file-it\/","title":{"rendered":"What Is Form DPT-3 MCA And How To File It?"},"content":{"rendered":"\n<p>In order to protect the interests of\ncreditors and depositors, the Central Government, in consultation with the Reserve\nBank of India (RBI), notified the Companies (Acceptance of Deposits) Amendment\nRules 2019 through the Companies (Acceptance of Deposits) Rules 2014. The DPT-3\nform is a one-time loan return form that must be filed by a company that has\noutstanding loans that are not treated as deposits. According to the most\nrecent Ministry of Corporate Affairs (MCA) Amendments, all companies, excluding\ngovernment corporations, are required to file a one-time return for outstanding\nreceipts of money that are the Company&#8217;s loan but are not considered deposits. According\nto Rule 16A, every Company (other than a government corporation) is required to\nfile a one-time return for transactions that are not considered deposits. As a\nresult, whether you are a small business or a one-person operation, you must\nfile Form DPT 3 MCA.<\/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\/what-is-form-dpt-3-mca-and-how-to-file-it\/#DPT-3_MCA_Applicability\" >DPT-3 MCA Applicability<\/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\/what-is-form-dpt-3-mca-and-how-to-file-it\/#List_of_Companies_That_Are_Exempted_From_Filing_Form_DPT-3_MCA\" >List of Companies That Are Exempted From Filing Form DPT-3 MCA<\/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\/what-is-form-dpt-3-mca-and-how-to-file-it\/#The_Distinction_between_Deposits_and_Non-Deposits\" >The Distinction between Deposits and Non-Deposits<\/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\/what-is-form-dpt-3-mca-and-how-to-file-it\/#Laws_governing_Form_DPT-3_MCA\" >Laws governing Form DPT-3 MCA<\/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\/what-is-form-dpt-3-mca-and-how-to-file-it\/#Documents_Required_For_Filing_E_FORM_DPT-3_MCA\" >Documents Required For Filing E FORM DPT-3 MCA<\/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\/what-is-form-dpt-3-mca-and-how-to-file-it\/#Process_for_Filing_E-FORM_DPT-3_MCA\" >Process for Filing E-FORM DPT-3 MCA<\/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\/what-is-form-dpt-3-mca-and-how-to-file-it\/#When_To_File_DPT-3_MCA_Return\" >When To File DPT-3 MCA Return?<\/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\/what-is-form-dpt-3-mca-and-how-to-file-it\/#Is_Auditors_Certificate_Mandatory_for_DPT-3_MCA\" >Is Auditor\u2019s Certificate Mandatory for DPT-3 MCA?<\/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\/what-is-form-dpt-3-mca-and-how-to-file-it\/#Consequences_of_Default_in_Filing_the_DPT-3_MCA_Returns\" >Consequences of Default in Filing the DPT-3 MCA Returns<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/corpbiz.io\/learning\/what-is-form-dpt-3-mca-and-how-to-file-it\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"DPT-3_MCA_Applicability\"><\/span>DPT-3 MCA Applicability<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>EForm DPT-3 is applicable to all types\nof money or debts, including:<\/p>\n\n\n\n<ul><li>Secured<\/li><li>Unsecured<\/li><li>External<\/li><li>Commercial Borrowings and others<\/li><\/ul>\n\n\n\n<p>Furthermore, even if the Company\nreceived a loan from one of the following entities, it must file the FORM\nDPT-3:<\/p>\n\n\n\n<ul><li>Holding Company<\/li><li>Subsidiary Company<\/li><li>Associate Company<\/li><\/ul>\n\n\n\n<p><strong>Other points to consider include:<\/strong><\/p>\n\n\n\n<ul><li>Rule 16A\nrequires all companies that have received money or a loan to file a DPT-3.<\/li><li>Even if the\nHolding Company, Subsidiary Company, or Associate Company obtains the loan, the\nDPT-3 Form must be filed.<\/li><li>If the\nCompany has not paid the loan by the 1st of April 2014 and it is still\noutstanding, such loans must be reported to the ROC using the DPT-3 Form.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"List_of_Companies_That_Are_Exempted_From_Filing_Form_DPT-3_MCA\"><\/span>List of Companies That Are Exempted From Filing Form DPT-3 MCA<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Certain businesses are exempt from submitting the Form\nDPT-3. The following are the names of the companies:<\/p>\n\n\n\n<ul><li>Banking companies;<\/li><li><strong><a href=\"https:\/\/corpbiz.io\/nbfc-registration\">Non-Banking Finance Companies<\/a><\/strong> (NBFC);<\/li><li>A housing finance company;<\/li><li>Others as notified.<\/li><\/ul>\n\n\n\n<p>The companies listed above are not required to file because\nthe new rule is based on Section 73 of the Companies Act, and the exemptions\nlisted above are provided in Section 73 itself.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_Distinction_between_Deposits_and_Non-Deposits\"><\/span>The Distinction between Deposits and Non-Deposits<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Every registered Company must distinguish between deposits\nand non-deposits when filing returns to the MCA on e-Form DPT-3. Here are some\nof the funds accepted or arranged by the Company that are not considered\ndeposits and, thus, do not need to be filed for returns. Here is a list of\ndeposits that are exempted under Rule 2(1)(C) of the Companies (Acceptance of\nDeposit Rules) of 2014.<\/p>\n\n\n\n<ul><li><strong>Funds were received from the following:<\/strong><ul><li>Government\u00a0<\/li><li>Foreign Government\u00a0<\/li><li>Foreign Bank<\/li><\/ul><\/li><li><strong>Loans made from any of the following sources:<\/strong><ul><li>Public Financial Institutions<\/li><li>Insurance Companies\u00a0<\/li><li>Banks<\/li><\/ul><\/li><li>Intercompany\ntransactions<\/li><li>The Company&#8217;s securities subscription and advance call<\/li><li>&nbsp;Funding\nreceived from the following sources:<\/li><li>&nbsp;The Director of\nthe Company<\/li><li>&nbsp;In the case of\na Private Limited Company, someone who manages the directorship at the time of\nlending.<\/li><li>&nbsp;Compensation is\npaid to an employee. According to the employment contract, the amount does not\nexceed the employee&#8217;s annual salary. A non-interest-bearing security deposit is\none example.<\/li><li>Funds received in a single tranche of 25 lakh or more\nin convertible notes from a start-up company<\/li><li>Funds received by the holder of the issuing secured\nbonds or debentures<\/li><li>&nbsp;Unsecured fund\ntransfer from the promoters of the Company<\/li><li>Funds received from the Nidhi Company or the Chit Fund\nCompany pursuant to the 1982 Chit Funds Act.<\/li><li>Funds obtained from any of the following sources:<\/li><li>Scheme of Collective Investment<\/li><li>Alternative Investment Vehicles<\/li><li>Investing in Mutual Funds (SEBI registration)<\/li><li>A sum that does not qualify as a deposit under the\nCompanies Act.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Laws_governing_Form_DPT-3_MCA\"><\/span>Laws governing Form DPT-3 MCA<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The laws\nthat govern Form DPT-3 MCA has been mentioned below:<\/p>\n\n\n\n<ul><li><strong>Section 73 Companies Act of 2013<\/strong><\/li><\/ul>\n\n\n\n<p>Deposits from the general public are not accepted.<\/p>\n\n\n\n<ul><li><strong>Section\n74 Companies Act of 2013<\/strong><\/li><\/ul>\n\n\n\n<p>Repayment of Deposit accepted prior to the start of this act<\/p>\n\n\n\n<ul><li><strong>Section\n75 Companies Act of 2013<\/strong><\/li><\/ul>\n\n\n\n<p>Compensation for the deception<\/p>\n\n\n\n<ul><li><strong>Section\n76 Companies Act of 2013<\/strong><\/li><li><strong>Rule\n16A <\/strong><strong>Companies\n(Acceptance of Deposit Rules) of 2014<\/strong><\/li><\/ul>\n\n\n\n<p>It talks about a one-time return.\nAccording to the rules, every Company (other than a government company) is\nrequired to file a one-time return regarding the receipt of money or loans that\nare not considered deposits.<\/p>\n\n\n\n<ul><li><strong>Rule\n2(1)(C) Companies (Acceptance of Deposit Rules) of 2014<\/strong><\/li><\/ul>\n\n\n\n<p>The rule defines the term &#8220;deposit.&#8221;<\/p>\n\n\n\n<p>The term &#8220;deposit&#8221; refers to any money received by\na company as a deposit, loan, or in any other form, but does not include the\namounts specified in Rule 2(1)(c) of the Companies (Acceptance of Deposit)\nRules, 2014.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Documents_Required_For_Filing_E_FORM_DPT-3_MCA\"><\/span>Documents Required For Filing E FORM DPT-3 MCA<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The following documents are required to file Form DPT-3 MCA:<\/p>\n\n\n\n<ul><li>Auditor&#8217;s Certificate<\/li><li>Deposit Insurance Contract<\/li><li>Copy of the trust deed<\/li><li>Copy of the instrument Creating Charge<\/li><li>List of Depositors<\/li><li>Details of the liquid assets.<\/li><li>Outstanding receipts of money or loans\ntaken by a company which has not been considered as deposits.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Process_for_Filing_E-FORM_DPT-3_MCA\"><\/span>Process for Filing E-FORM DPT-3 MCA<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The DPT-3 MCA E-Form must be submitted using the following\nprocedure:<\/p>\n\n\n\n<ul><li>Gather the requisite documents.<\/li><li>Go to the MCA portal.<\/li><li>Fill out the E FORM DPT-3 MCA.<\/li><li>Submit the application form.<\/li><li>Receive the confirmation from the MCA.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"When_To_File_DPT-3_MCA_Return\"><\/span>When To File DPT-3 MCA Return?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The DPT-3 MCA Form is a return of deposits, details of a\ntransaction not deemed a deposit, or both, which every corporation is required\nto file by June 30th each year.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Is_Auditors_Certificate_Mandatory_for_DPT-3_MCA\"><\/span>Is Auditor\u2019s Certificate Mandatory for DPT-3 MCA?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>It is not required to include the Auditor&#8217;s certificate when\nsubmitting a DPT-3 MCA for a One-Time return or an Annual return for an\noutstanding amount. Nonetheless, an auditor&#8217;s certification is necessary if the\ncorporation is filing DPT-3 MCA for a return of deposits.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Consequences_of_Default_in_Filing_the_DPT-3_MCA_Returns\"><\/span>Consequences of Default in Filing the DPT-3 MCA Returns<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>If a business accepts deposits but fails to comply with the\nForm DPT-3 MCA one-time return obligations, it may incur severe penalties as\nmentioned below:<\/p>\n\n\n\n<p><strong>Penalty on the Company<\/strong><strong><\/strong><\/p>\n\n\n\n<p>A fine of one crore or double the amount of the deposit,\nwhichever is less, shall be imposed by the MCA. The fine may be as much as ten\n(10) crore rupees.<\/p>\n\n\n\n<p><strong>Penalty on the Officers<\/strong><strong><\/strong><\/p>\n\n\n\n<p>The MCA may imprison the involved officers for up to seven\nyears as punishment. Moreover, he shall pay a fine of 25 lakh rupees which can\ngo till up to two crore rupees.<\/p>\n\n\n\n<p><strong>Penalty in case of default in paying the Fine<\/strong><strong><\/strong><\/p>\n\n\n\n<p>The Company or the Officer may be required to pay an extra\nINR 5,000 if the fine is not paid on time. Since the default, there has been a\ndaily fine of INR 500 for this violation.<\/p>\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>When it comes to tax collecting methods, the government may\ncome across as egotistical and dogmatic, but it also puts stakeholders&#8217;\ninterests and protection first. The rights of those who have given money to the\nCompany as a &#8220;Loan&#8221; must be upheld. Lenders are unaware of the\nprospect of losing money if something goes wrong, but shareholders are. In\norder to monitor operations and protect the interests of all stakeholders, the\nMinistry of Corporate Affairs has established a number of forms in which a firm\nmust disclose information. These forms are supported by the Companies Act 2013,\nwhich has been put into effect. The Central Government, in collaboration with <strong>the\nReserve Bank of India<\/strong><sup><a href=\"https:\/\/www.rbi.org.in\/\"><strong>[1]<\/strong><\/a><\/sup>, announced the Companies (Acceptance\nof Deposits) Amendment Rules 2019 to safeguard the interests of creditors and\ndepositors.<\/p>\n\n\n\n<p>On January 22, 2019, the MCA declared that all businesses,\nexcluding the government, must submit a one-time return in DPT-3 MCA. As a\nresult, sub-rule (3) was introduced to Rule 16A of the Companies (Acceptance of\nDeposits) Regulations, 2014, after sub-rule (2), which had the following\neffect:<\/p>\n\n\n\n<p>A fee in accordance with the Companies (Registration Offices and Fees) Rules, 2014, and any outstanding receipts of money or loans by a company that are not considered deposits, as detailed in Form DPT-3 MCA, must be submitted by every Company other than a government company within a period of 90 days from the 31st March 2019&#8243;. In order to monitor operations and protect the interests of all stakeholders, the Ministry of Corporate Affairs has established a number of forms in which a firm must disclose information. These forms are supported by the Companies Act 2013, which has been put into effect.<\/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\/dpt-3-form-meaning-filing-and-penalties\/\">DPT 3 Form: Meaning, Filing, And Penalties<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In order to protect the interests of creditors and depositors, the Central Government, in consultation with the Reserve Bank of India (RBI), notified the Companies (Acceptance of Deposits) Amendment Rules 2019 through the Companies (Acceptance of Deposits) Rules 2014. The DPT-3 form is a one-time loan return form that must be filed by a company [&hellip;]<\/p>\n","protected":false},"author":48,"featured_media":56280,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[3565],"acf":{"service_id":"1"},"authorName":"Astitva Kumar","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2022\/12\/MicrosoftTeams-image-27.jpg","authorDescription":"Astitva Kumar is an advocate by profession and has completed her BBA. LLB from IP University. She is an avid reader, researcher, and legal writer. Her areas of interest include mediation, conflict resolution, finance, cyber laws, and taxation.","postViews":3673,"readingTime":5,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/56279"}],"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\/48"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=56279"}],"version-history":[{"count":4,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/56279\/revisions"}],"predecessor-version":[{"id":56284,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/56279\/revisions\/56284"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/56280"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=56279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=56279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=56279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}