DPT 3 is a return of deposits that companies must file to furnish information about deposits and/or outstanding receipt of loan or money other than deposits. Every company needs to file annual form DPT-3 (Return of Deposits) which is due on or before 30th June 2020.

Who has to File The DPT-3 Form?

Except for the Government companies, all other companies which include all private limited companies, OPC, limited companies or Section 8 Company have to mandatorily file this form. The last date for annual return is within ninety days from the end of a financial year, i.e. 31st March 2020.

Details required for DPT-3 Filing:

·  List of deposits matured or cheques issued but not yet cleared. It is mandatory if the company has a balance of deposits outstanding at the end of the year.

·  The total outstanding amount of money/loan received by the company at the end of the financial year (other than deposits).

·  Details of loan or money received by the company for the financial year ended (other than deposits)

·  Auditor’s certificate

Consequences of non-filing

If the company does not adhere to the requirements of DPT-3 and keeps accepting deposits then it will face the following consequences:

Under Section 73

A penalty of minimum 1 crore or twice the amount of deposits whichever is lower, which may extend to Rs.10 crore

For every officer who is in default imprisonment up to 7 years and with a fine not less than Rs.25 lakhs which may extend to Rs.2 crores. 

Under Rule 21

On the company and every officer in default a fine which may extend up to Rs.5,000, and where the contravention is a continuing one, a fine of Rs.500 for every day since the default. 

Don’t wait till the last date! Avoid the huge penalty and finish filing now with Taxaj to stay compliant.