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DPT-3 Filing In India: Definition, Applicability, Fees, Benefits, Process

The provisions of the Companies Act, 2013, in its ambit, cover many regulatory requirements with which companies are required to comply. One of those compliances is DPT-3 filing. Form DPT-3 is the return of deposit that every company is required to file with the registrar of companies. This is one of the measures taken by the companies to uphold the concept of corporate governance. In this article, we will uncover every detail that is required to comply with the filing of Form DPT-3.

Table of Content

What is Form DPT-3?

Rule 16 of the Companies (Deposits and Acceptance) Rules, 2014, mandates the filing of Form DPT-3 annually. Form DPT-3 is the return of deposits that the companies are required to file annually or on a one-time basis, as the case may be. DPT-3 filing is done to protect and safeguard the interests of the company's depositors. It shows the details of the deposits and non-deposits accepted by the company during the previous financial year.

Who is exempt from filing Form DPT-3 in India?

An amendment to the Companies Act in 2019 made it compulsory for every company not being a government company incorporated in India to undertake DPT-3 filing.

However, the following classes of companies are exempt from filing form DPT-3:

  • Banking Company
  • Non-Banking Financial Companies [NBFCs]
  • A Housing Finance Company registered with the National Housing Bank
  • Any other company may be notified under Section 73(1) of the Act.

Transactions not considered as deposits

The Companies Act, 2013 clearly states the exempted category of deposits that are not to be reported under DPT-3 filing .

The transactions not to be considered deposits are:

  • Any amount received from the central or state government
  • Any amount received from foreign governments, foreign or international banks
  • Any amount received as a loan or facility from any banking company or from a co-operative bank
  • Any amount received as a loan or financial assistance from public financial institutions as notified by the central government
  • Any amount received against the issue of commercial paper
  • Any amount received by a company from another company
  • Any amount received and held pursuant to the issue of securities

Benefits of filing ITR

There are multiple benefits of e-filing ITR returns which are as follows:

  • Avail Loan: The banks ask for the last 3 years of income tax returns in order to process the loan which makes ITR filing important.
  • Obtain Visa: The ITR is an important document which is required at the time processing a VISA application.
  • Early Refund: In case ITR is filed early, the refund is also processed early by the income tax department.
  • Carry Forward losses: The ITR needs to be filed within prescribed time in order to carry forward losses.
  • Avoid late fees: The ITR should be filed within the stipulated time in order to avoid late fees.

Due date of filing form DPT-3 in India

Annual DPT-3 Filing: The due date for filing annual returns is June 30th of every year.

One-Time Return: A one-time return shall be filed for all the deposits received during the period starting from April 1, 2014, to March 31, 2019. The annual return for the period 1st April 2019 to 31st March 2020 shall be filed.

Fees of filing Form DPT-3

Fees for filing Form DPT-3 are based on the share capital of the company. The fee structure is as follows:

S.No. Share Capital of the Company Fees (In Rupees)
1 Less than 1,00,000 200
2 1,00,000 to 4,99,999 300
3 5,00,000 to 24,99,999 400
4 25,00,000 to 99,99,999 500
5 1,00,00,000 or more 600

However, in cases of late filing, the form will be subject to late fees, which are categorized as follows:

S. No. Delay in Filing (No. of Days) Penalty
1 Up to 30 2 times the normal fees
2 30 to 59 4 times the normal fees
3 60 to 89 6 times the normal fees
4 90 to 180 10 times the normal fees
5 More than 180 12 times the normal fees

Documents required for filing form DPT-3

DPT-3 filing is the next step to ensuring the transparency of deposits accepted by the company. The following documents are required to be attached to the DPT-3 form, namely:

  • Auditor's certificate verifying the Audited financial statement of the company and particulars of Form DPT-3
  • Copy of instruments creating charge
  • List of depositors, details, and the amount of deposits
  • In case of secured deposits, a copy of the deposit insurance contract
  • Copy of Trust deed

Process of filing form DPT-3 in India

Login to MCA: Start by visiting the MCA portal and logging in with your credentials. All the filing of forms with ROC or RD is done through the MCA web facility.

Open Form DPT-3: After log-in proceed to the ‘e-filing’ tab on the main menu under MCA Services. Then choose the option of deposit-related filing, under which DPT-3 will appear.

Fill in the details: Fill in the details, including CIN, registered office, net worth, deposit details, secured/unsecured deposits, etc.

Attachments: DPT-3 form requires certain attachments. The applicant should prepare the attachments before filing the form and attach them while submitting it.

Generate SRN: Once all the details have been filed in the form and the necessary attachments have been attached, then you should proceed to submit the duly filled form to generate the SRN.

Attach DSC & pay the required fee: Once the SRN is generated, you should affix the DSC to authenticate the form and then proceed to pay the requisite fee. The fee for DPT-3 is based on the share capital of the company.

Fee Receipt: After paying the fee, the fee receipt and acknowledgment mail are received.

Consequences of not filing Form DPT-3

The DPT-3 filing has been brought to light to ensure transparency in the actions of corporations. However, many corporations avoid filing the form DPT-3 for various reasons.

But the non-filing of DPT-3 will have the following consequences for the corporation:

  • The company and every officer in default shall be liable to a fine, which may extend up to Rs. 5,000/-.
  • In case of continuous default, a fine of Rs. 500/- for every day since the default.

Conclusion

Filing Form DPT-3 is a regulatory requirement imposed on companies under the Companies Act, 2013. It has been imposed to safeguard the interests of creditors or depositors and to ensure corporate governance. It is important to file the form DPT-3 timely to avoid the consequences and late fees associated with non-filing. The form is filed either annually or on a one-time basis. Companies are required to check their deposits category to ensure that they do not fall under the exempted transactions category.

We, at BizFoc, help companies comply with their DPT-3 filing requirements to stay at the top of the compliance chart.

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Frequently Asked Questions related to DPT-3 filing

DPT-3 filing is the return of deposits that every company, other than the exempted companies, is required to file annually or on a one-time basis.

It is not necessary to file a nil DPT-3. However, as a measure of good corporate governance, it is advised to file the nil DPT-3 as well.

DPT-3 filing is required to be made before June, 30th of every year.

DPT-3 form is a Non-STP form. It does not need any approval from ROC.

Yes, the certificate of CA verifying the audited annual financial statements and particulars of the form is mandatory.

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