What is Form DPT- 3: Purpose, Applicability, Due Date, and Penalty
- Rajesh Kumar Kar
- Nov 12
- 8 min read
Managing finances, increasing income, and meeting the never-ending compliance standards are just a few of the difficulties that come with operating a business in India. Form DPT-3 is one such important yet frequently disregarded file. All Indian businesses, with the exception of government agencies, are required to submit this annual report detailing their deposits, loans, and non-deposit revenues. Every year on June 30th, firms must submit Form DPT-3 in order to avoid fines and keep their good standing with regulatory bodies.
Table of Contents
What is Form DPT-3?
Companies (except for government entities) are required by law to submit Form DPT-3 to the Ministry of Corporate Affairs (MCA) in order to report any outstanding funds or loans that are not considered deposits under the Companies Act, 2013. By adding sub-rule (3) to Rule 16A of the Companies (Acceptance of Deposits) Rules, 2014, an MCA notification dated January 22, 2019, implemented this requirement.
In light of this amendment:
All businesses, excluding government agencies, must submit a one-time report in Form DPT-3 within ninety days of March 31, 2019, for any outstanding receipts of funds or loans that are not regarded as deposits for the period from April 1, 2014, to March 31, 2019. The deadline was later extended by the MCA through General Circular No. 05/2019, which also made it clear that extra fees would only be assessed thirty days after the form was made available on the MCA website. Consequently, the deadline was changed to May 31, 2019.
Purpose of Form DPT-3
Transparency and Compliance: By revealing the company's deposit obligations to stakeholders such as creditors, members, and regulatory bodies, filing DPT-3 encourages transparency. This openness promotes confidence and shows compliance with the Companies Act of 2013.
Protecting Depositors: DPT-3 keeps track of every deposit made, giving depositors a clear view of the company's obligations. By providing a system for monitoring and guaranteeing responsible management of deposited funds, this record-keeping helps protect depositor interests.
Regulatory Monitoring: The DPT-3 file enables regulatory agencies to keep an eye on the financial well-being of businesses, especially their activities pertaining to deposits. This monitoring assists in identifying possible hazards and guarantees that businesses adhere to pertinent deposit acceptance requirements.
Keeping Up a Positive Image: Adherence to regulatory standards and prudent financial management are demonstrated by timely DPT-3 filing. In addition to preventing possible legal consequences for non-compliance, this promotes a good reputation.
Clarity on Deposits: Businesses can distinguish deposits from other financial transactions by using the DPT-3 filing method. This clarity prevents misunderstandings regarding the company's financial obligations and guarantees accurate financial reporting.
Applicability of Form DPT-3
Many different types of Indian-registered firms are required to file Form DPT-3. Your business must probably file this report every year if it has any outstanding receipts or loans that aren't considered deposits. The following businesses must file Form DPT-3:
Public Limited Companies
One-Person Companies (OPCs)
Section 8 Companies (Non-Profit Organisations)
Exemption from Filing Form DPT-3
This return is required of all businesses, with the exception of government agencies. Furthermore, the following businesses are likewise exempt under Rule 1(3) of the Companies (Acceptance of Deposits) Rules 2014:
A housing finance company registered with the National Housing Bank
Banking company
Non-Banking Financial Company
Any other company as notified under the proviso to Section 73 subsection (1)
Transactions Not Considered as Deposits
According to Rule 2(1)(c) of the Companies Rules, 2014, the following sums are not regarded as deposits:
Any sum that a business receives from another business.
Any sum that the government, a foreign government, or a foreign bank guarantees.
Any sum obtained as a loan or facility from banks, insurance companies, or public financial institutions.
Subscription to securities and call in advance.
Any sum, such as a non-interest-bearing security deposit, that the business receives from an employee that does not exceed his yearly wage as stipulated in the employee contract.
Any sum obtained from the company's director or a family member of the private company's director who held the position at the time of lending.
Any money received during or for the company's operations as an advance for the provision of goods or services, or as a security deposit for the fulfilment of the contract for the provision of goods or services.
A startup business receives a convertible note worth at least Rs 25 lakh in a single tranche.
Amount raised by the issuance of first-charge secured bonds or non-convertible debentures that don't have a charge on the company's assets.
Any sum that the business receives from Nidhi Company or through a subscription for a chit under the Chit Funds Act of 1982.
Promoters' unsecured loans.
Any money the business receives from mutual funds, alternative investment funds, or collective investment schemes that are registered with SEBI.
Anything else that Rule 2(1)(c) does not classify as a deposit.
Documents Required to File Form DPT-3
The company's CIN, email address, assets, net worth, details of any charges, the total amount owed as of March 31, 2020, and credit rating details are the details that must be provided. The following documents are to be submitted when filing Form DPT-3:
Auditors certificate
Copy of Trust deed
Copy of the instrument creating the charge
Deposit Insurance contract, where applicable and mentioned
List of depositors
Details of liquid assets
Optional attachment
Filing of Form DPT-3
DPT-3 may be filed as a one-time return or an annual return. The one-time return must be submitted between April 1, 2014, and March 31, 2019. As a result, all receipts obtained within this time frame and those that remained unpaid as of March 31, 2019, have to be recorded. The annual return covers the time frame from April 1, 2019, to March 31, 2020. All outstanding sums as of this date will be included in this return.
Steps to File Form DPT-3
A web-based form called Form DPT-3 is submitted online via the Ministry of Corporate Affairs' (MCA) official webpage. This is a condensed synopsis of the procedure:
Step 1: Go to www.mca.gov.in and enter your Business User credentials to log in.
Step 2: Go to MCA Services > e-Filing > Deposit Related Filings > Webform DPT-3.
Step 3: Enter the necessary information, such as
Email ID
CIN
The primary goals of the company
Net Worth Unpaid sums as of March 31st
Specifics of any fees or credit ratings
Step 4: Add documents such as the board resolution, the auditor's certificate, and any necessary financial information.
Step 5: For authorisation, affix your Digital Signature Certificate.
Step 6: Pay the necessary filing fees according to the authorised share capital of your business.
Step 7: Get an email acknowledgement and SRN. The Registrar of Companies will provide you with an email confirmation and a Service Request Number (SRN) upon submission.
Due Date for Filing Form DPT-3
Form DPT-3 must be submitted by June 30th of each year as the deadline for filing. On January 22, 2024, the MCA notified it through a notification. For instance, the deadline for DPT-3 for FY 2025–2026 is June 30, 2026.
Consequences of Non-Filing of Form DPT-3
The company will suffer the following repercussions if it continues to accept deposits in violation of DPT-3:
Section 73: A minimum penalty of Rs. 1 crore or twice the deposit amount, whichever is less, with a maximum penalty of Rs. 10 crore.
Every officer who is in default faces up to seven years in prison and a fine of at least Rs. 25 lakhs, with the possibility of a fine of up to Rs. 2 crores.
Rule 21: This rule imposes a fine of up to Rs. 5,000 on the corporation and each officer who is in default; if the violation is ongoing, the fine is Rs. 500 for each day that has passed since the default.
Although there is no set opinion on whether or not a NIL return needs to be submitted, it is usually advantageous to take the cautious route and do so.
Conclusion
Companies in India (apart from government agencies) are required to finish the DPT-3 file by June 30th every year in order to guarantee compliance and prevent fines. In addition to protecting depositor interests, this file gives the MCA access to deposit information. For Indian businesses, Form DPT-3 is a crucial compliance requirement. Although filing this can seem like simply another compliance duty, it's actually an essential step in maintaining the financial transparency and legal stability of your company. Penalties, needless worry, and last-minute scrambling can result from missing the deadline. Take a proactive approach by reviewing your records, working with your auditors, and organising your paperwork well in advance rather than scrambling at the last minute.
FAQs
Q1. Is Form DPT-3 mandatory?
All businesses (except for government organisations) that have received loans, deposits, or other non-deposit receipts must submit Form DPT-3. According to the Companies Act of 2013, it must be submitted once a year to guarantee regulatory compliance and financial transparency.
Q2. Is DPT-3 mandatory every year?
DPT-3, which reports financial data from the prior fiscal year, is an annual compliance requirement that must be submitted by June 30 each year.
Q3. Who shall submit Form DPT-3?
All Indian-registered corporations must electronically submit the Form DPT-3. With the exception of government agencies, banks, NBFCs, and housing finance companies. Additionally, individuals who do not possess the company's standing are not required to submit this form, such as:
Individuals
Proprietorships
Partnership firms etc
Q4. What is the purpose of filing Form DPT-3?
Form DPT-3 is used to:
Assist regulators in monitoring firm borrowings and financial stability.
Assure financial transparency by reporting deposits, loans, and non-deposit transactions.
Ensure the Companies Act of 2013 is followed, and stay out of trouble.
Q5. What is the penalty for delay in DPT-3?
A corporation may be fined Rs. 5,000 if it fails to file Form DPT-3 on time. Continued non-compliance will result in an extra fee of Rs. 500 per day; officers who fail to comply may be subject to fines of up to Rs. 2 lakh.
Q6. What is the fee for DPT-3?
The authorised share capital of a company determines the filing fee for Form DPT-3. Here are the details:
Rs. 200 for companies with capital up to Rs. 1 lakh
Rs. 300 for Rs. 1-5 lakh
Rs. 400 for Rs. 5-25 lakh
Rs. 500 for Rs. 25 lakh-1 crore
Rs. 600 for Rs. 1 crore or more
Additional fees are applicable for delays, and they increase with the delay period.
Q7. Can we file DPT-3 after the due date?
It is possible to file DPT-3 beyond the deadline; however, doing so will result in late fees and penalties. It is best to file before the June 30 deadline to prevent needless financial and legal repercussions.
Q8. Is DPT-3 applicable to LLPs?
No, LLPs (Limited Liability Partnerships) are not covered by Form DPT-3. Since LLPs are subject to different compliance standards and are governed by the LLP Act of 2008, it only applies to private and public limited corporations.
Q9. What is the change implemented in the Companies (Acceptance of Deposits) Amendment Rules, 2019?
The obligations for reporting have been expanded by the Companies (Acceptance of Deposits) Amendment Rules, 2019. Prior to the amendment rules, only deposits or items similar to deposits had to be reported; now, loans and other outstanding receipts are included in their scope.
Q10. Which category of loans are required to be reported in DPT-3?
According to the notification of January 22, 2019, every money received by the company that is still unpaid must be recorded in form DPT-3. The data can be classified as:
All outstanding receipts
Unsecured Loans
Secured Loans
Q11. What if the company has repaid the loan?
It is necessary to disclose only the outstanding loan and receipt of funds, not the loan that has been repaid.
Q12. What are the disclosure requirements for the Private Company?
In addition to DPT 3, a private firm must include information about any loans it takes out from directors or family members in its Board's Report and Notes to Accounts.
Q13. Is the disclosure required for amounts outstanding before 1 April 2014?
It can be assumed that the amount will be recorded using Form DPT-3 if it remains unpaid on January 22, 2019.
