Form DPT-3: Applicability, Purpose, Due Date & Penalty

Form DPT-3 is a mandatory return of deposits that companies must submit, providing details of deposits as well as any outstanding loans or money received that do not fall under the definition of deposits.

Background

To protect the interests of creditors and depositors, the Central Government, in consultation with the Reserve Bank of India, introduced changes to the Companies (Acceptance of Deposits) Rules, 2014 through the Companies (Acceptance of Deposits) Amendment Rules, 2019.

Introduction

Through a notification dated 22nd January 2019, MCA directed that all companies, except government companies, must file a one-time DPT-3 return. This return also needs to be filed every year thereafter. As a result, a new sub-rule (3) was added after sub-rule (2) under Rule 16A of the Companies (Acceptance of Deposits) Rules, 2014, which states:

Every non-government company must file a one-time return in Form DPT-3 for outstanding receipts of money or loans—excluding deposits—received between 1st April 2014 and 31st March 2019, as defined under clause (c) of sub-rule (1) of Rule 2. This return must be submitted within ninety days from 31st March 2019, along with the applicable fee under the Companies (Registration Offices and Fees) Rules, 2014.

Later, General Circular No. 05/2019 revised this timeline by clarifying that additional fees would apply only after 30 days from the date of deployment of Form DPT-3 on the MCA21 portal. Hence, the revised deadline became 31st May 2019. Since then, the form is required to be filed annually.

Who Is Exempt From Filing the Return?

All companies other than government companies are required to file Form DPT-3. Further, under Rule 1(3) of the Companies (Acceptance of Deposits) Rules, 2014, the following entities are also exempt:

• Banking companies
  
• Non-Banking Financial Companies
  
• Housing finance companies registered with the National Housing Bank
  
• Any other company notified under the proviso to Section 73(1) of the Act
  

Filing of DPT-3

Form DPT-3 is filed in two categories:

• One-time return
  
• Annual return
  

Transactions Not Considered as Deposits

The following receipts are not treated as deposits:

• Amounts received from the government, or backed by a government guarantee, as well as from foreign governments or foreign banks
  
• Loans or financial assistance from Public Financial Institutions, Insurance Companies, or Banks
  
• Funds received by one company from another company
  
• Money received against subscription to securities or by way of calls in advance
  
• Amounts received from a company’s director, or from a relative of a director in a private company, provided they held their position when the amount was given
  
• Security deposits taken from employees, not exceeding their annual salary, and provided they are non-interest bearing
  
• Advances received during business operations for goods or services or as security for performance of such contracts
  
• Convertible notes of ₹25 lakh or more received by a startup in a single tranche
  
• Money raised through secured bonds or debentures with a first charge, and non-convertible debentures without a charge on company assets
  
• Unsecured loans taken from promoters
  
• Amounts received from a Nidhi Company or by way of subscription to a chit under the Chit Funds Act, 1982
  
• Receipts from collective investment schemes, alternative investment funds, or mutual funds registered with SEBI
  
• Any other amount that does not fall under the definition of a deposit as per Rule 2(1)(c)
  

Therefore, any outstanding loan or money received—secured or unsecured—that is not classified as a deposit must be reported.

Due Date for Filing DPT-3

The annual DPT-3 return must be submitted by 30th June each year. For instance, for FY 2025–26, the filing deadline is 30th June 2026.

Tenure of Return

The one-time return covers the period from 1st April 2014 to 31st March 2019, reporting all receipts during this period that remained outstanding as on 31st March 2019. The annual return applies from 1st April 2019 to 31st March 2020 and includes all amounts outstanding at the end of the relevant financial year.

Information to Be Furnished

Details to be provided include the company’s CIN, email address, business objectives, net worth, information on any charges, total outstanding amount as of 31st March 2020, and credit rating particulars.

Documents to Be Submitted

• Auditor’s certificate
  
• Trust deed, if applicable
  
• Deposit insurance contract, wherever relevant
  
• Copy of the instrument creating the charge
  
• List of depositors, including matured deposits where cheques have been issued but not yet cleared
  
• Details of liquid assets
  
• Optional attachments
  

Filing Fees

The applicable fees must be paid as per the Companies (Registration Offices and Fees) Rules.

Consequences of Non-Filing

Failure to comply with DPT-3 requirements while continuing to accept deposits may lead to the following penalties:

• Under Section 73: A minimum penalty of ₹1 crore or twice the deposit amount (whichever is lower), extendable up to ₹10 crore.
  
• For officers in default: Imprisonment up to seven years and a fine ranging from ₹25 lakh to ₹2 crore.
  
• Under Rule 21: A fine up to ₹5,000 on the company and every defaulting officer, plus an additional ₹500 per day for continuing non-compliance.
  

There is no definitive stance on filing a NIL return, but adopting a cautious approach and submitting one is generally advisable.