File Return of Deposit Form DPT-3 in Surat
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File Return of Deposit – Form DPT-3
DPT-3 form is filled in to assist third parties such as banks, financial institutions, creditors, and depositors by making the financial transactions of the company transparent. As per the January 22, 2019, MCA notification, a one-time return in DPT-3 is required by all companies (excluding government companies). The return is to be with the details of the money received during the financial year and in what category.
What is Form DPT-3?
Form DPT-3 is a return of deposits that companies must file to report:
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Deposits received
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Outstanding loans or money received other than deposits
Details Required in Form DPT-3:
LLPs that have either
Funds received as grants or subsidies from State, Central, or Local authorities.
Secured or unsecured loans from banks or public financial institutions.
Loans obtained from directors or their relatives.
Advances from customers.
Loans from shareholders.
Deposits received from any source.
Funds received from employees as security deposits.
Who Needs to File DPT-3?
All companies except government companies must file DPT-3 annually by June 30.
Example: For the financial year 2022-23, DPT-3 must be filed by June 30, 2023.
Who is Exempt from Filing DPT-3?
As per Rule 1(3) of the Companies (Acceptance of Deposits) Rules, 2014, the following companies do not need to file DPT-3:
Banking companies
Non-Banking Financial Companies (NBFCs)
Housing finance companies that are officially registered with the National Housing Bank (NHB).
Other companies exempted under Section 73(1) of the Act
What Happens When You Don't File the Forms on Time?
If you don’t submit the required forms by the deadline, you’ll face penalties:
Late Fee:
You’ll have to pay INR 100 for each day you delay filing.
On the Company:
INR 1,000 per day, subject to a maximum of INR 10 Lakhs.
On Every Officer in Default:
INR 1 Lakh, plus INR 100 per day of delay, subject to a maximum of INR 5 Lakhs.
Penalties for Non-Filing of DPT-3
Failure to file DPT-3 and continued acceptance of deposits can lead to severe penalties:
1) Under Section 73 of the Companies Act
(1) A minimum penalty of ₹1 crore or twice the deposit amount, whichever is lower. (2) Penalty may extend up to ₹10 crore. (3) For every officer in default: Imprisonment up to 7 years and a fine between ₹25 lakh to ₹2 crore.
2) Under Rule 21 of the Companies (Acceptance of Deposits) Rules, 2014
(1) Fine on the company and responsible officers: Up to ₹5,000. (2) Additional penalty for continuing non-compliance: ₹500 per day from the date of default.
Timely filing of DPT-3 ensures compliance, prevents legal risks, and maintains your company’s credibility with financial institutions and stakeholders.