DPT-3 Checklist / FAQs / Latest Provisions

1. DPT-3CHECKLIST/FAQS/LATEST PROVISIONS https://taxguru.in/company-law/dpt-3-checklist-faqs-latest-provisions.html DPT-3CHECKLIST/FAQ/LATESTPROVISIONS LEGALPROVISIONS: E-Form DPT-3 is required to be filed pursuant to rule 16 and 16A of the of the Companies (Acceptance of Deposits)Rules, 2014 Rule16:ReturnofdepositstobefiledwiththeRegistrar: Every company other than Government company to which these rules apply, shall on or before the 30th day of June, of every year, file with the Registrar, a return in Form DPT-3 along with the fee as provided in Companies (Registration Offices and Fees) Rules, 2014and furnish the information contained therein as on the 31st day of Marchof that year dulyaudited by the auditor ofthe company. Form DPT-3 shall be used for filing return of deposit or particulars of transaction not considered as deposit or bothby every company otherthan Government Company. Rule16(A)(3): Every company other than Government company shall file a onetime return of outstanding receipt of money or loan by a company but not considered as deposits, in terms of clause (c) of sub-rule 1 of rule 2 from the 01st April, 2014 to 31st March 2019, as specified in Form DPT-3 within ninety days from 31st March 2019 along withfee asprovided in theCompanies (Registration Officesand Fees) Rules,2014] TheE-formhasbeendesignedtoreportfollowing4scenarios:- OnetimeReturnfordisclosureofdetailsofoutstandingmoneyorloanreceivedbyacompanybutnot considered as deposits in terms of rule 2(1)(c) of the Companies (Acceptance of Deposits) Rules, 2014 Returnof Deposit Particularsoftransactionsbyacompanynotconsideredasdepositasperrule2(1)(c)oftheCompanies (AcceptanceofDeposit)Rules,2014 ReturnofDepositandParticularsoftransactionsbyacompanynotconsideredasdeposit We will be discussing in this Article- filing of DPT-3 in the 3rd scenario (i.e. Particulars of transactions by a company not considered as deposit as per rule 2 (1) (c) of the Companies (Acceptance of Deposit) Rules, 2014)as it is the mostcommon scenario:- Once the 3rd option is selected in the form Point no. 9 to 12 and 14 becomes irrelevant (as pertaining to Deposit Acceptingcompanies) and disappears in theform.

2. INFORMATIONREQUIRED:- To enable a person to prepare this form, it is advisable to get the following data as on financial year end date for which the DPT-3 return is being filed, prepared by the Accounts team in an excel sheet and vetted by the Auditors:- AMOUNTASONAMOUN (31.03.2022) (31.03.202 S. No PARTICULARS: 1 (i) (ii) Anyamountreceivedfrom– theCentralGovernment aStateGovernment;oranyamountreceivedfromanyothersourcewhose repaymentisguaranteedbytheCentralGovernmentorStateGovernment anyamountreceivedfromalocalauthority anyamountreceivedfromstatutoryauthorityconstitutedunderanActof Parliamentor a StateLegislature Any amount received from – ForeignGovernments Foreignorinternationalbanks Multilateralfinancialinstitutions ForeignGovernmentsowneddevelopmentfinancialinstitutions Foreignexport creditagencies Foreign collaborators Foreignbodycorporates Foreigncitizens Foreignauthorities PersonsresidentsoutsideIndiasubjecttotheprovisionsofForeign ExchangeManagement Act,1999 (42 of1999 Anyamountreceivedas– Aloanorfacilityfromanybankingcompany FromthestateBankofIndiaoranyofitssubsidiarybanks FromabankinginstitutionnotifiedbytheCentralGovernmentunder section51of theBanking RegulationAct, 1949(10of 1949) A corresponding new bank as defined in clause (d) of section 2 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40of 1980) From a cooperative bank as defined in clause (b-ii) of section 2 of the ReserveBank ofIndia Act, 1934(2 of 1934). Any amount received as loan or financial assistance from – PublicFinancialInstitutionsnotifiedbytheCentralGovernment Anyregional financialinstitutions Insurancecompanies (iii) (iv) 2 (i) (ii) (iii) (iv) (v) (vi) (vii) (viii) (ix) (x) – 3 (i) (ii) (iii) (iv) (v) 4 (i) (ii) (iii)

3. Scheduled Banks as defined in the Reserve Bank of India Act,1934 (2 of 1934) Anyamountreceivedagainstissueofcommercialpaperoranyother instruments issued in accordance with the guidelines or notification issued bythe Reserve Bank ofIndia. Anyamountreceivedbythecompanyfromanyothercompany Anyamountreceivedandheldpursuanttoanoffermadeinaccordance withtheprovisionsoftheActtowardssubscriptiontoanysecurities including share application securities pending allotment, so long as such amount is appropriated only money or advance towards allotment of against theamount dueon allotmentof securitiesapplied for Any amount received from a person who, at the time of the receipt of the amount, was a director of the company or the relative of the director of a privatecompany Any amount raised by the issue of bonds or debentures secured by a first charge or a charge ranking pari passu with the first charge on any assets referred to in Schedule III of the Act excluding intangible assets of the company bonds or debentures compulsorily convertible into shares of the company withinten years Anyamountraisedbytheissueofnon-convertibledebenturesnot constituting a charge on the assets of the company and listed on recognized stockexchangeasperapplicableregulationsmadebySecuritiesand ExchangeBoard of India Any amount received from an employee of the company not exceeding his annual salary under a contract of employment withthecompanyinthenatureofnon-interestbearingsecurity deposit. Anynon-interestbearingamountreceivedandheldintrust. Any amount received in course of, or for the purposes of the business of the company- Asanadvanceforsupplyofgoodsorprovisionofservicesaccounted for in any manner whatsoever provided that such advance is appropriated against supply of goods or provision of services within a period of three hundredandsixty-fivedaysfromthedateofacceptanceofsuchadvance. Asadvanceaccountedforinanymannerwhatsoever,receivedin connectionwithconsiderationforimmovablepropertyunderanagreement orarrangement,providedthatsuchadvanceisadjustedagainstsuch propertyinaccordancewiththetermsof agreementorarrangement Assecuritydepositforperformanceofthecontractofsupplyofgoodsor provisionof services Asadvancereceivedunderlongtermprojectsforsupplyofcapitalgoods exceptthosecoveredunderitem(b)ofsub-clause(xii)clause(c)ofsubrule (1)ofrule(2)oftheCompanies(AcceptanceofDeposits)Rules,2014 (iv) 5 6 7 8 9(i) (ii) 10 11 12 13 (i) – (ii) (iii) (iv)

4. As an advance towards consideration for providing future services in the form of a warranty or maintenance contract as per written agreement, if the period for providing such services does not exceed the period prevalent as per common business practice or five years, from the date of acceptance of suchservice whichever isless. Asadvancereceivedandallowedbyanysectoralregulatororin accordancewithdirectionsofCentralorStateGovernment. Asanadvanceforsubscriptiontowardspublication,whetherinprintor electronictobe adjustedagainstreceipt ofsuch publications. Any amount brought in by promoters of the company by way of unsecuredloansinpursuanceofthestipulationofanylendingfinancial institutionor a bank. AnyamountreceivedbyaNidhicompanyinaccordancewiththe rulesmade undersection 406of the Act Anyamountreceivedbywayofsubscriptioninrespectofchit undertheChit FundsAct, 1982(4of 1982) AnyamountreceivedbycompanyunderanycollectiveInvestment scheme in compliance with regulations framed by the Securities andExchange Board ofIndia Any amount of twenty-five lakh rupees or more received by a startup company, by way of convertible note (convertible into equity shares or repayable within a period not exceeding five yearsfromthedateofissue)inasingletranche,fromaperson Anyamountreceivedbyacompanyfrom– AlternateInvestmentFunds DomesticventureCapitalFunds InfrastructureInvestmentsTrusts RealEstateInvestmentTrusts MutualFundsregisteredwiththeSecuritiesandExchangeBoardofIndia Loanfrom Share Holder Loanfromanyotherentitymentionedabove. Total (v) (vi) (vii) 14 15 16 17 18 19 (i) (ii) (iii) (iv) (v) 20 21

5. In addition to above, one has to compile and provide details of CIN,email ID, Objects of the company, Net worth of the company,particulars of charge if any, the total amount outstanding as on year end i.e. 31st March, andparticulars of credit rating. IMPORTANTPOINTSINFILINGDPT-3(OPTION-3) Exempteddeposits:Depositincludesanyreceiptofmoneybywayofdepositorloanorinanyformexcept the transaction excluded under this rule. Therefore, rule 2 (1) (c) define the transaction(s) which shall not be considered as deposit i.e. exempted deposit, and the transactions which are not covered in rule 2 (1) (c) shallbe consideredas deposit ofthe Company. Thelist iscompiled hereinabove. Thetotaloutstandingamountofexempteddepositattheendoffinancialyearneedtofurnishinyearly return. Thesaidoutstandingamountofexempteddepositcanberelatedtoanyoftheperiod. Theoutstanding amountshall alsoinclude theinterest onit, ifany. PointNo.8oftheDPT-3requiresthecompanytoenterNetWorthasperthelatestauditedbalancesheet preceding the date of the return. If for any reason no audited accounts are available for the previous year (e.g New Company- filing for first f.y), then filing the form with unaudited figures would suffice the purpose.Insuchacaseitisadvisabletoattachaclarificationletterregardingusageof unaudited/provisional figures along with the reason, on the letter head of the Company duly signed by a director. DPT-3isanon-STPform,whichmeansthatitneedsapprovaloftheROC Auditor’sCertificate: Statutory Auditor’s Certificate is required to be attached with the form only in the case when a return of deposits is filed (Option no. 2 and 4 is selected in the e-form DPT-3) i.e., the purpose of filing the form is either ofthe two: ReturnofDeposit ReturnofDepositandParticularsoftransactionsbyacompanynotconsideredasdeposit However, as a prudent practice the figures submitted in DPT-3 needs to be verified by a professional including auditorof the Company. Exemption:- EveryCompanyisrequiredtofileFormDPT-3,except: GovernmentCompany Banking Company NBFC HousingFinanceCompany DISCLAIMER: This Article is designed to provide information of a general nature and is not intended as a substituteforprofessionalconsultationandadviceinaparticularmatter.Theopinionsandinterpretations expressed within are those of the author only and may not reflect those of other identified parties. The results & interpretationhavebeendoneonthebasisofrelevantprovisionsandaspertheinformationexistingatthetime of the preparation of this Article. The Author explicitly disclaim any financial or other liability of any kind arising on account of any action taken pursuant to the results or interpretation of this Article and accepts no responsibilitywhatsoeverandwillnotbeliableforanylosses,claimsordamageswhichmayarisebecauseof thecontents of this write up.