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DPT 3 FILING
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DPT 3 FILING
DPT 3 FILING , APPLICABILITY , FEES , PENALTY AND PROCESS
Every business, excluding government company, is required to submit a one-time return in DPT 3, according to a notification issued by the MCA on January 22, 2019. Additionally, it must be filed every year. Therefore, in Rule 16A of the Companies (Acceptance of Deposits) Rules, 2014, a sub-rule (3) was added after sub-rule (2), and it says as follows:
Consequently, a sub-rule (3) was added to Rule 16A of the Companies (Acceptance of Deposits) Rules, 2014, following sub-rule (2). It states as follows: under clause (c) of sub-rule 1 of rule 2, every company, with the exception of government companies, must submit a one-time return of any funds received or loans made by businesses that are not considered deposits between April 1, 2014, and March 31, 2019, as specified in Form DPT-3, within "ninety days from March 31, 2019."
Penalty for Non-Compliance -
• Food, but not such as for and of the kind or composition or grade required - Seller - 5 Lakhs.
• Penalty for Petty food business operator if non-compliance under Section 50 shall not be more than - 25,000.
• Sub-standard foods - Manufacturer, Seller, Storage, Distributor, Importer - 5 Lakhs.
• Misbranded foods - Manufacturer, Seller, Storage, Distributor, and Importer – 3 Lakhs.
• Misleading advertisement - Publisher or anyone involved in publishing - 10 Lakhs.
• Food is comprised of extraneous material - Manufacturer, Seller, Storage, Distributor, Importer - 1 Lakhs.
• Failure to follow direction - Food business operators or importers - 2 Lakhs.
• Unhygienic or unsanitary - Manufacturer or processor - 1 Lakhs.
• The one company that also owned the Manufacturing, Seller, Storage, Distributor, Importer - Adulterant not dangerous to health - 2 Lakhs, Adulterant dangerous to health – 1 Lakh and Imprisonment to the end of life.
• Contraventions for which a fixed penalty is not stipulated any individual - 2 Lakhs.
• Punishment for unsafe food Manufacturer, Seller, Storage, Distributor, Importer - No injury - 1 Lakh and 6 months, Non-Grievous injury - 3 Lakhs and 1 year, Grievous injury - 5 Lakhs and 6 years.
• Punishment for access of seized items Any 20 Lakhs and 6 months.
• Penalization of dishonest communication - Any individual as per the provisions relevant to the FSSAI Act - 2 Lakhs and 3 months.
• Punishment for causing blockage or impersonating an FSO - Any Individual - 1 Lakh and 3 months.
• Punishment for conducting a business without a license Any Person, Food Business operator - 5 Lakhs and 6 months.
• Penalty on further offenses Any Persons Fine on daily rates – 1 Lakh.
• Financial compensation accident or death to consumer - Any person - 5 Lakhs in death, 3 Lakhs if grievous injury, 1 Lakh for other injuries.
Who is not required to file the return?
This return must be filed by all businesses, with the exception of government company. Furthermore, the following companies are exempt under Rule 1(3) of the Companies (Acceptance of Deposits) Rules 2014:
• Banking institution
• Non-Banking Financial Organization
• Any other business as specified by the proviso to subsection (1) to section 73 of the Act, or a housing finance company registered with National Housing Bank.
Transactions that don't qualify as deposits
• Any sum that has been given to company by the government or guaranteed by a foreign government or bank.
• Any sum obtained by a loan or other arrangement from a bank, insurance company, or public financial institution.
• Any sum that a business receives from another business.
• Securities subscription and advance call.
• Any sum obtained from the company's director or a family member of the private company's director who was in office at the time of lending.
• Any sum that an employee gives the business that doesn't exceed his yearly salary as stipulated in his employment contract, such as a security deposit that doesn't collect interest.
• Any sum of money obtained during or for the company's operations as a for the fulfillment of the contract for the supply of products or provision of services, or as a payment in advance for the delivery of goods or services.
• Receipt of a convertible note in one tranche by a startup firm for no less than Rs 25 lakh.
• Amount raised through the issuance of first-charge secured bonds or non-convertible debentures that do not encumber the company's assets.
• Promoters' unsecured loans.
• Any sum that the business receives from Nidhi Company or as a subscription for chit under the 1982 Chit Funds Act.
• Any sum that the business receives from mutual funds, alternate investment funds, or collective investment schemes that are registered with SEBI.
• Any additional sum that, according to Rule 2(1)(c), is not regarded as a deposit.
Therefore, any sum that is due or a loan that is not regarded as a deposit, whether it is secured or unsecured, needs to be disclosed.
DPT 3 applicability
Form DPT-3 must be filed for a variety of financial transactions and debts.
The following categories of funds or debts are covered by Form DPT-3:
• Secured debts : commitments or loans that are supported by security or collateral offered by the borrowing business.
• Unsecured debts: Loans and obligations without collateral or security.
• External Borrowings: Debts or borrowings from other sources, including banks or financial organizations, are also included in Form DPT-3.
• Commercial Borrowings: Form DPT-3 applies to loans or obligations acquired by businesses for commercial use.
It important to remember that a business still needs to file Form DPT-3 even if it has a loan from a certain entity .
Among these entities are:
• Holding Company: Form DPT-3 reporting is required if a business has taken out a loan from its holding company, which owns a majority share.
• Subsidiary Company: Form DPT-3 must be filed if the loan is from a subsidiary business that the borrowing company owns.
• Associate Company: Form DPT-3 must be filed whenever a business receives a loan from an associate business that has a substantial impact on the borrowing firm.
Details to be provided
The following information must be provided:
• The company's CIN,
• email address,
• objects,
• net worth,
• charge details, if applicable, total amount owed as of March 31, 2020, and
• credit rating details.
Submission of Documents
• Certificate of Auditors
• Copy of Trust Deed Where appropriate and indicated in the form
• copy of the instrument creating the charge,
• the deposit insurance contract List of depositors: A separate list of deposits that have matured and checks that have been issued but not yet cleared Information on liquid assets Optional attachment
Process of filing DPT 3
Form DPT-3 is an online form that needs to be submitted on the Ministry of Corporate Affairs' (MCA) website. The steps in the process are listed here to provide you with a thorough grasp of the DPT 3 filing process. Our specialists are here to help whenever you run into problems or require expert support. The steps involved in filing DPT 3:
Go to the MCA Portal and sign in:
Visit the website of the MCA. For all e-filing and services offered by the Ministry of Corporate Affairs, including Form DPT-3 filing, this is the official portal.
Sign in to your account. You can register as a Business User to create an account if you don't already have one.
Get the DPT-3 Webform here:
Go to the Form: After logging in, select "e-filing services" from the "MCA Services" part of the main menu.
Choose Deposit Submissions: Choose "Deposit Related Filings" from the drop-down box, and then open the DPT-3 Webform. From beginning to end, the entire process is done online.
Complete and submit the online form:
The following details must be provided when submitting Form DPT-3:
• Company CIN: The company's assigned Corporate Identification Number (CIN).
• Email ID: The business's official email address for correspondence.
• The company's objectives : An explanation of the main business operations or goals for which the organization was founded.
• Company Net Worth: The company's net worth as at the end of the most recent fiscal year, which is usually determined by subtracting all liabilities from all assets.
• Charge specifics (if applicable): Information about any fees or liens on the business's property.
• Total Outstanding as at the end of financial year: The total amount of deposits, loans, or other funds that are still owed as at the end of financial year.
• Details of Credit Rating: Details about the company's credit rating, if any, including the rating and the name of the credit rating agency.
• Attachments: Provide digital copies of the required papers to back up the information on the form.
Fill out the form to create an SRN.
Submission of the Form: Once the form has been completed and the necessary papers have been attached, submit it online. You can monitor the progress of your form until all formalities are finished by using the Service Request Number (SRN) that will be generated.
Attach the DSC and Make the Necessary Payment:
• Digital Signature: Use the applicant's Digital Signature Certificate (DSC) to verify the form.
• Fee Payment:Make the DPT-3 filing fee payment. The charge rises in accordance with the company's nominal or paid-up capital. The following section contains detailed fee arrangements.
DPT 3 due date
Every year on June 30th, Form DPT 3 must be filed. All businesses that must record their deposits or unreported loan or money-not-deposit receipts for their financial year that ends on March 31st must do so by this deadline.
For explanation:
• Financial Year: In India, the fiscal year normally lasts from April 1st to March 31st of the subsequent year.
• DPT-3 Reporting: All deposits and advance receipts made by businesses during this fiscal year must be reported.
• Due Date: June 30th is the date for filing DPT-3 for the past financial year. For example, the DPT-3 must be filed by June 30, 2025, for the financial year of 2024–2025 (which is from April 1, 2024, to March 31, 2025).
The penalties of not filing
The penalties of not filing
The following consequences will occur if the business continues to accept deposits in violation of DPT-3's requirements:
• Section 73: A fine of at least one crore or twice the deposit amount, whichever is less, up to a maximum of Rs. 10 crore.
• Every officer in default faces a minimum fine of Rs. 25 lakhs, which can reach Rs. 2 crores, and a maximum sentence of 7 years in prison.
• A punishment of up to Rs. 5,000 may be imposed on the company and any officer who violates Rule 21. If the violation is on-going, a fine of Rs. 500 will be imposed for each day that the default has occurred.
Filing fees
In case of company having share capital:
| S.NO | PAID UP SHARE CAPITAL OF COMPANY (INR) | FEES APPLICABLE (INR) |
|---|---|---|
| 1 | Less than 1,00,000 | 200 |
| 2 | 1,00,000 to 4,99,999 | 300 |
| 3 | 5,00,000 to 24,99,999 | 400 |
| 4 | 25,00,000 to 99,99,999 | 500 |
| 5 | 1,00,00,000 or more | 600 |
In case of company not having share capital the normal filing fees is Rs. 200/-.
Additional fees in case of late filing
| S.NO | PERIOD OF DELAY | ADDITIONAL FEES (INR) |
|---|---|---|
| 1 | Up to 30 days | Two times of normal fees |
| 2 | More than 30 days and up to 60 days | Four times of normal fees |
| 3 | More than 60 days and up to 90 days | Six times of normal fees |
| 4 | More than 90 days and up to 180 days | Ten times of normal fees |
| 5 | More than 180 days | Twelve times of normal fees |
- FAQ
1. What is DPT-3?
A company must submit a DPT-3 (Deposit and Payment of Tax) form to the Ministry of Corporate Affairs (MCA) in order to disclose deposits it has made in accordance with the 2013 Companies Act. It particularly concerns the submission of information about deposits that the business has accepted.
2. Who is required to file DPT-3?
All businesses must submit a DPT-3, with the exception of those exempted by the Ministry of Corporate Affairs. This comprises businesses that at the start of the the financial year; had either received deposits or had deposits pending.
3. What is the due date for filing DPT-3?
The due date for filing DPT-3 is usually 30th June of every year. The form needs to be filed for the preceding financial year.
4. What information is required for DPT-3?
The following information is needed on the form:
- Basic information about the company (name, CIN, registered office address)
The amount, kind, and maturity date of the deposits that the company has accepted.
- The total amount owed at the start of the year.
- Any further particular disclosures based on the company's deposits.
5. What happens if the DPT-3 is not filed on time?
The company may be subject to penalties under the Companies Act if the DPT-3 form is not filed on time. The company and its officers may be subject to the penalty.
5. The FSSAI license is valid for how long?
The validity period varies from one to five years, depending on the applicant's request. Before it expires, renewal must be completed.
6.Can DPT-3 be filed after the due date?
It is possible to file the form beyond the deadline, however there will be a late fee. The length of the delay usually determines how much the late fee is charged.
7. Can the form be revised?
It is possible to amend the DPT-3 form if there is an error or if it needs to be updated by submitting the updated form within the allotted period.
8. Is there a fee for filing DPT-3?
Yes, submitting the DPT-3 form requires a filing cost that is determined by the company's capital. However, if you file after the deadline, you will be charged late costs.