The Ministry of Corporate Affairs vide its notification dated 22nd January, 2019 has brought in amendments in the Companies (Acceptance of Deposit) Rules, 2014. The said Rules now mandate every company to file e-form DPT-3 irrespective of whether it has accepted deposits or not.
Form DPT-3 filing must be made by all companies other than a Government company. Hence, all private limited company, OPC, limited company or Section 8 Company would be required to file Form DPT-3.
One Time: Companies would be required to file Form DPT-3 one-time on or before the 22nd of April 2019. In the return, the company must provide details of outstanding receipt of money or loan by a company but not considered as deposits from 1st April 2014 up to 22nd January 2019.
Annual: Post the one time compliance, Companies would be required to file Form DPT-3 on or before the 30th day of June, of every year and furnish the information contained therein as on the 31st day of March of that year duly audited by the auditor of the company.
The intention behind this filing requirement could be that MCA wishes to scrutinize at personal level all the transactions of company and self-assess whether the same tantamount to deposits.
Nikita Bhatia is the co-founder of VenturEasy, an online platform for Company registration, book-keeping, accounting, tax consultancy and legal compliances in India. A Chartered Accountant and company secretary by profession, she has wide experience in the fields of audit, accountancy, taxation and corporate governance.