On 22nd January 2019, The Ministry of Corporate Affairs has notified The Companies (Acceptance of Deposits) Amendment Rules, 2019, which has come into force with effect from 22nd January 2019. In these rules, the major change that has been introduced is the introduction of Form DPT 3 which shall be used by every company other than Government company for filing return of outstanding receipt of money or loan by a company but not considered as deposits, in terms of clause (c) of sub rule 1 of rule 2, from 01st April 2014 to the date of publication of this notification i.e. 22nd January 2019.
The Form DPT – 3 is a One-time return which needs to be filed within 90 days from the publication of these rules. The FAQs regarding the Form DPT 3 are as follows:-
Whether all the companies are required to file the Form DPT 3 as per rule 16A?
As per the reading of Rule 16A, every company other than Government company shall need to file the particulars of loans to the ROC within 90 days from the publication of this notification. This means that Companies whether One Person Company, Private Limited, Public Limited, Nidhi Company, etc. Other than Government company) shall have to file this Form DPT 3.
What is the frequency for filing the Form DPT 3?
Form DPT 3 is a One-time return which needs to be filed by the Companies other than Government companies.
What is the due date for filing Form DPT 3?
The due date for filing the Form DPT 3 is 22nd April 2019, i.e. 22nd January 2019 + 90 days.
What is the time period which is covered under the reporting in Form DPT – 3?
The time period for the reporting under this Form is 01st April 2014 to 22nd January 2019.
Whether loans received from Holding, Subsidiary and Associates enterprises shall be covered in the scope of Form DPT 3?
Yes, the loans received from Holding, Subsidiary and Associate enterprises shall be covered in the scope as the reading of the rule says that the outstanding loans or receipt of money of the companies shall be reported in the Form.
Whether specific loan outstanding as on 1st April 2014 but not outstanding as on 22nd January 2019 needs to be covered in the scope of Form DPT 3?
No, as per the reading of Rule 16A, the reporting needs only to be done for the outstanding loans as on 22nd January 2019. So, for this type of specific loan, this should not be covered within the ambit of Form DPT 3.
Whether the companies which are not having outstanding loans as on 22nd January 2019 needs to file the return under Form DPT 3?
No. As per the reading of Rule 16A, only those companies which are having outstanding loans or receipt of money shall be liable to file the form. So, in this case, the companies which are not having outstanding loans as on 22nd January 2019 shall not be liable to file the return.
In view of the above, it can be concluded that all the ambiguity regarding Form DPT 3 will be cleared.
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Are NBFC Companies also included in the same???
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