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Mandatory Filing of DPT-3 for Return of Deposits

Mandatory Filing of DPT-3 for Return of Deposits

There is a mandatory filing of DPT-3 for return of deposits. IT needs to be filed by specific companies who have taken loans during a specific period and haven’t considered them as deposits.

Have you ever taken some money or debt from another that you did not file as anything? If that is the case, how would you show the MCA (Ministry of Corporate Affairs) that money? It is an undefined money or debt that you need to show to the government. MCA Form DPT-3 is a way for you to show the MCA that money. It is a One-time return made mandatory for companies that have taken debt or money from any institution from dates: 1st April 2018 to 22nd January 2019.

However, there is a condition; these monies should not have been noted down as deposits. Confusing right? Don’t worry, through this blog, you are going to learn all about it.

What is DPT-3?

Companies that have taken debts or monies from any entity from 1st April 2018 and 22nd January 2019 have to file a One Time return to the MCA. This return is filed through DPT-3. The applicability of this Form is present for all types of debts namely:

  1. Secured
  2. Unsecured
  3. External
  4. Commercial Borrowings.

Who need to file Form DPT-3?

Companies that have taken debts or monies from any entity from 1st April 2018 and 22nd January 2019 from any of the banks or the following entities have to file this form:

  1. Subsidiary Company
  2. Holding Company
  3. Associate Company
  4. Money taken from directors of a company.

Who are eligible to file Form DPT-3?

Business entities eligible to file form DPT-3 are the following:

  1. One Person Company
  2. Private Limited Company
  3. Public Limited Company
  4. Section 8 Company.

However, it would be good for you to note that the government companies are exempted to file DPT-3.

Due date to file DPT-3?

This year, the due date to file DPT-3 is 25th April 2019.

Documents required to file Form DPT-3

If you seek to file DPT-3, then the documents required are the following:

  1. Certificate from the Auditor: To show that you have been audited
  2. Deposit Insurance Contract: it is mandatory has deposit insurance
  3. Trust deed copy: if the company has trust deed
  4. Copy of the Instrument creating Charge: Also mandatory if the company has trust deed.
  5. A list of the depositors: This would include a list of matured deposits that have been issued but have yet to be cleared. It needs to be shown separately. It is mandatory for the companies with balanced outstanding deposits at the end of the year.
  6. Details of the liquid Assets: Details of the assets that can be sold.
  7. Any other document like an outstanding receipt of money or loan taken by a company which has not been filed or considered as a deposit.

If your company falls in the category where filing this form is important, you should start filing DPT-3 through Registrationwala’s aid today.

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