DPT-3 Filing in India
Registering a company is just the beginning. Corporate compliance post-registration in India plays a crucial role in ensuring the smooth functioning and growth of businesses. The Ministry of Corporate Affairs (MCA) has outlined several legal compliances that companies registered under the Companies Act 2013 must adhere to in order to maintain transparency, accountability, and financial integrity. Among all the regulatory requirements, companies that accept deposits are mandated to ensure timely DPT-3 filing.
The DPT-3 filing, which became mandatory in 2019, requires companies to submit a detailed report to the Ministry of Corporate Affairs (MCA) on the nature, amount, and terms of the deposits accepted during the financial year. This filing aims to ensure transparency and reduce the risk of financial mismanagement. Before this, many companies were accepting deposits without proper regulatory oversight, leading to issues like fraud and lack of transparency. The introduction of DPT-3 filing was a step towards making financial practices more transparent and better regulated.
Although DPT-3 filing does not apply to every business, it is mandatory for companies that accept deposits. Failure to comply with this requirement can lead to penalties for both the company and its directors, along with legal consequences.
What Is DPT-3 Filing?
DPT-3 filing refers to an annual declaration that companies must submit to the Ministry of Corporate Affairs (MCA), containing details about the deposits accepted by the company during a given financial year. According to Section 73 of the Companies Act 2013, any company that has accepted or renewed deposits must file a return with the Registrar, detailing the particulars of the deposits within three months from the end of the financial year. The main objective of the DPT-3 filing is to maintain transparency about public deposit acceptance and ensure that companies comply with the law.
Who Needs to File DPT-3?
- Companies Accepting Public Deposits: Companies that have accepted public deposits during the financial year must file this form.
- Companies Not Accepting Deposits: Even if the company has not accepted any deposits during the financial year, it must file this form annually to declare the same.
- Private Companies: Private companies that have accepted public deposits are also required to file the DPT-3 form.
- Tax Compliance: Avoid penalties and ensure timely tax filing.
- Accurate Tax Calculation: Ensures correct tax assessment and reduces audit risk.
- Tax Relief: Allows access to deductions or incentives, reducing tax liability.
- Financial Transparency: Maintains clear financial records and improves business credibility.
- Reputation: Keeps your business in good standing with tax authorities.
Before starting the DPT-3 filing, you will need to gather the following documents:
- Board Resolution: A copy of the resolution passed by the board of directors regarding the acceptance or non-acceptance of public deposits.
- Auditor’s Certificate: A certificate from the auditor confirming compliance with regulations for accepting public deposits.
- Public Deposit Details: Copies of contracts or agreements related to public deposits, if applicable.
- Financial Statements: The latest audited financial statements for the company.
- Proof of Public Deposit Acceptance: Proof of any deposits accepted by the company.
- Copy of Trust Deed: If the deposits are given in a trust, a copy of the trust deed is required.
- List of Depositors: Details of individuals or entities that have made deposits, including their names, amounts, and identification.
- Details of Liquid Assets: The company’s assets that are easily convertible into cash.
Follow these steps to file the DPT-3 form online:
- Log in to the MCA Portal: Visit www.mca.gov.in and log in using your registered credentials. If you don't have an account, create one.
- Navigate to e-Forms: Under the MCA Services tab, click on e-Forms, and search for DPT-3.
- Fill in the Required Details: Provide company details such as Corporate Identification Number (CIN), public deposit information, and whether the company complies with the conditions laid out under the Companies Act, 2013.
- Attach Documents: Attach the necessary documents as listed above to complete the filing.
- Calculate and Pay the Filing Fee: The filing fee depends on your company's authorized share capital. The fee structure is as follows:
- Up to ₹1,00,000: ₹200
- ₹1,00,001 to ₹5,00,000: ₹300
- ₹5,00,001 to ₹10,00,000: ₹400
- Above ₹10,00,000: ₹500
- Submit the Form: Once you have reviewed and verified the details, click on the Submit button. A confirmation receipt will be generated to confirm successful filing.
Due Date for Filing DPT-3 Return:
The DPT-3 form must be filed annually by 30th June of each year.
Penalties for Non-Filing Of DPT-3:
Non-filing of the DPT-3 form can result in severe penalties for both the company and its directors, including:
- Penalty for the Company: ₹1 crore or twice the deposit amount, whichever is higher (with a maximum penalty of ₹10 crore).
- Penalty for Officers: Imprisonment up to 7 years, with a fine ranging from ₹25 lakh to ₹2 crore.
- Additional Penalty for Continued Default: ₹5,000 plus ₹500 per day for continued default.
Exemptions From Filing Form DPT-3:
Certain companies are exempt from filing Form DPT-3 under the Acceptance of Deposits Rules of 2014, including:
- Government Companies (wholly owned by the government)
- Financial Institutions regulated by the RBI such as:
- Banks
- Non-Banking Financial Companies (NBFCs)
- Housing Finance Companies registered with the NHB
- Other companies specifically notified by the Ministry of Corporate Affairs (MCA)
Applicability of Form DPT-3:
Form DPT-3 applies to companies that have:
- Deposits from members or directors
- Loans from third parties
- Advances for goods or services (secured or unsecured)
This form is relevant to various types of financial transactions, such as:
- Secured Debts (loans backed by collateral)
- Unsecured Debts (loans without collateral)
- External Borrowings (from financial institutions or banks)
- Commercial Borrowings (for business purposes)
Transactions Not Considered as Deposits:
Certain transactions are not considered deposits and therefore are not required to be reported under Form DPT-3:
- Share Capital (money received for shares)
- Debentures (loans issued by investors)
- Advances for Orders (prepayments for confirmed orders)
- Government Receipts (money from government bodies)
- Bank Loans (borrowed from banks/financial institutions)
- Inter-Company Loans (loans from other companies)
- Subscription Advances (money for future securities)
- Employee Deposits (security deposits from employees, up to annual salary)
At FilingIn, we understand that DPT-3 filing can be complex. Our team of experts is here to make the process smooth and hassle-free. From drafting the necessary documents to guiding you through the filing process, we ensure your company remains compliant with all regulatory requirements.
We keep up with the latest legal updates and tailor our services to meet your specific needs. With our reliable and affordable services, you can focus on growing your business while we handle your DPT-3 filing with accuracy and efficiency.
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Frequently Asked Questions in India
What is Form DPT-3?
Form DPT-3 is a return of deposits that companies must file with the Ministry of Corporate Affairs (MCA) annually. It includes details about deposits, loans, and amounts received by the company that do not qualify as deposits as of March 31st.
Which companies are required to file Form DPT-3?
Every company, excluding government companies, must file Form DPT-3. This includes:
- Private Limited Companies
- Public Limited Companies
- One Person Companies (OPC)
- Small and Non-Small Companies
What types of companies are exempt from filing Form DPT-3?
The following companies are exempt from filing Form DPT-3:
- Government Companies
- Banks regulated by the Reserve Bank of India (RBI)
- Non-Banking Financial Companies (NBFCs) registered with RBI
- Housing Finance Companies registered with the National Housing Bank (NHB)
What is the due date for filing Form DPT-3?
The due date for filing Form DPT-3 is June 30th each year, reporting details for the financial year ending on March 31st.
What should be reported in Form DPT-3?
Form DPT-3 must include:
- Deposits received from members or directors
- Loans from third parties
- Advances for goods or services (secured or unsecured) It must report all deposits and outstanding receipts for the financial year.
What transactions are not considered deposits for DPT-3?
Transactions not considered deposits include:
- Share capital (money received for shares)
- Debentures (loans from investors)
- Advances for confirmed orders
- Government receipts
- Loans from banks and financial institutions
What documents are required for filing Form DPT-3?
Required documents include:
- Auditor’s certificate verifying the company’s deposits and outstanding receipts
- Optional documents like proof of trust deed or instrument creating a charge (if applicable)
- A list of depositors, if required
How do I file Form DPT-3 online?
To file Form DPT-3:
- Visit the MCA portal and log in
- Navigate to “e-filing services” and select “Deposit-related filings”
- Fill in the details and upload required documents
- Pay the filing fee and submit the form with your Digital Signature Certificate (DSC)
What are the penalties for non-compliance with DPT-3 filing?
Penalties for non-compliance include:
- A fine of up to ₹5,000 for the company
- A fine of up to ₹5,000 for officers in default
- Additional fines of ₹500 for each day of continuing non-compliance
Can FilingIn assist with DPT-3 filing?
Yes, FilingIn offers professional services to help companies accurately file Form DPT-3. Our experts ensure timely and efficient filing to keep your company compliant with MCA regulations.Top of FormBottom of Form
