DPT 3 form is the deposit return which is necessary to be filed by every company per annum. In case of government companies, deposits are accepted as per the statement mentioned in section 73 with the said rules. DPT 3 forms are made in terms of the rule 16 of the companies (acceptance of deposits) rules.
Although it is said that the company who have accepted deposits only need to pay back that. But in January 2019, the ministry of affairs MCA has issued a notification and inserted another rule, 16A.
This rule of 16A states that each and every company needs to file a one-time return for transactions which are not considered as deposits. Even if it is a small or a big company or even a company of an individual, they need to file DPT 3. Only in case of governmental companies it is not necessary to undergo this process.
There are few companies that are not entitled to fill the form DPT-3 are as follows-
- Banking companies
- Non-Banking Finance Companies (NBFC)
- A housing finance company
These companies don’t need to file as it comes under the rule of section 73. This section 73 gives the power to these companies.
The due date for filing the annual return of deposits is 30th June of every year. If any company fails to pay back the deposits and continuously accepts it, the consequences will be as follows-
Under section 73 A penalty of minimum 1 crore or twice the amount of deposit can be charged. This penalty can be as high as 10 crores.
MCA consults its notification dated 22nd January 2019 notified that every company, excluding the government companies, must file one time return in DPT 3.
Although it is mandatory to file pay the deposits on due day that is 30th June. But in case of special scenarios like Pandemic in 2020, an extension of few months was given which lasted till 30th September. All the companies received this relaxation owing to the pandemic situation.