Guide to eForm DPT-3, Due Date, and Consequences
Filing the annual return and ensuring compliance with the Companies (Acceptance of Deposits) Amendment Rules is essential for companies. This guide explores eForm DPT-3, its purpose, applicability, and due date for filing. It also discusses the latest amendments and the penal consequences of noncompliance.
Background
To protect stakeholders, including creditors and depositors, the Central Government (CG) notified amendments to the Companies (Acceptance of Deposits) Rules 2014 through the Companies (Acceptance of Deposits) Amendment Rules 2019.
Rule for eForm DPT-3
eForm DPT-3 must be filed pursuant to Rule 16 of the Companies (Acceptance of Deposits) Amendment Rules, 2019.
Applicability of eForm DPT-3
Form DPT-3 is applicable to all companies (Small Company, OPC, Public, Listed, etc.) except:
Banking Companies
NBFCs registered with RBI
Housing Finance Companies (HFCs) registered with the National Housing Bank
Government Companies (in case of exempted deposits)
Purpose of eForm DPT-3
To provide information on deposits received by the company
To gather entitywise information on loans received by the company
To monitor companies' acceptance of loans, deposits, and advances
Due Date for Filing
The due date for filing the annual return is 30th June of every year.
Latest Amendment on Form DPT-3
Every applicable company must file eForm DPT-3, duly audited by the company’s auditor, with a declaration submitted by the auditor.
Penal Consequences of NonCompliance
Under Section 73A of the Companies Act, 2013:
Companies failing to comply with sections 73 or 76, read with relevant rules, face a penalty of a minimum of ?1 crore or twice the amount of deposits, whichever is lower, up to ?10 crores.
Defaulting officers face imprisonment of up to 7 years and a fine ranging from ?25 lakhs to ?2 crores.
Frequently Asked Questions about Form DPT-3
Q1. What is Form DPT-3?
A. Form DPT-3 is an electronic form notified under Rule 22 (Annexure) of the Companies (Acceptance of Deposits) Rules, 2014.
Q2. On which companies is the filing of Form DPT-3 applicable?
A. It applies to all companies (Private, Public, One Person Company, Section 8 Company), except Banking Companies, NBFCs, Housing Finance Companies, and certain companies specified by the Central Government after consultation with RBI.
Q3. What is the last date to file Form DPT-3 for the financial year 202223?
A. As per Rule 16 of the Companies (Acceptance of Deposits) Rules, 2014, Form DPT-3 must be filed with the Registrar of Companies by 30th June each year.
Q4. Is an auditor's signature required on Form DPT-3?
A. Yes, if the return of deposits is being filed, a declaration digitally signed by the company’s auditor is required. For transactions not considered as deposits, an auditor's digital signature is not needed.
Q5. Is a Nil return required to be filed?
A. Rule 21 mandates penalties for noncompliance but does not specifically require a Nil return. However, if a company opts to file a Nil return, it can do so.
Q6. What are the consequences if Form DPT-3 is not filed within the due date?
A. Noncompliance can result in significant penalties and imprisonment for defaulting officers, as specified under Section 73A of the Companies Act, 2013.
Conclusion
Filing eForm DPT-3 is an essential compliance requirement for companies under the Companies (Acceptance of Deposits) Rules, 2014. Understanding the applicability, deadlines, and consequences is crucial to avoid penalties and maintain regulatory compliance. Companies must meet the filing requirements, obtain the necessary auditor declaration, disclose relevant balances, and adhere to the June 30th deadline.
Fri, 28-Jun-2024