In this blog, we will discuss in detail about Form DPT-3, its applicability, and the process of filing this form.
Applicability of Form DPT-3:
Form DPT-3 is applicable to all companies registered under the Companies Act, 2013, except for the following:
- Banking companies
- Non-Banking Financial Companies (NBFCs)
- Housing Finance Companies
- Companies registered under Section 8 of the Companies Act, 2013
- Government companies
- Wholly-owned subsidiaries
Details required to be furnished in Form DPT-3:
Following are the details that are required to be furnished in Form DPT-3:
- Details of the company, such as name, registered office address, CIN, etc.
- Details of outstanding loans or borrowings taken by the company from any entity.
- Details of deposits accepted by the company.
- Details of any transaction not considered as deposits.
- Details of the default made in the repayment of deposits or interest thereon.
Process of filing Form DPT-3:
Form DPT-3 can be filed online on the MCA (Ministry of Corporate Affairs) portal by following the below-mentioned steps:
- Log in to the MCA portal using your credentials.
- Click on the ‘e-Forms’ tab and select ‘Annual Filing’.
- Download Form DPT-3 in excel format.
- Fill in the required details in the excel file.
- Generate an XML file of the filled-up excel file.
- Upload the generated XML file on the MCA portal.
- Pay the required fee for filing Form DPT-3.
- Once the fee is paid, the ROC will process the form and provide an acknowledgment receipt.
Penalties for non-compliance:
In case a company fails to file Form DPT-3 within the specified time period, then it will be liable to pay a penalty of Rs. 5,000 per day until the form is filed. Moreover, if any false or incorrect information is furnished in the form, then the company and its officers will be liable to pay a fine of up to Rs. 25 lakhs or imprisonment of up to 7 years or both.
One of the significant advantages of Form DPT-3 is that it helps in reducing the risk of fraudulent activities in the company. By disclosing all outstanding loans and borrowings taken by the company, it becomes difficult for any individual or entity to misappropriate company funds. Moreover, the form also helps in creating a level playing field for all the companies as it ensures that no company has an unfair advantage over others by taking unauthorized loans.
Another benefit of Form DPT-3 is that it helps in building trust and confidence among stakeholders. By filing the form, the company demonstrates its commitment towards complying with the regulatory requirements and maintaining transparency in its operations. It also reassures the stakeholders that the company is managing its finances responsibly and is not engaging in any unlawful activities.
 conclusion
Form DPT-3 is an essential compliance requirement that every company must fulfill to maintain transparency and accountability in its financial transactions. By filing the form, companies not only comply with the regulatory requirements but also build trust and confidence among stakeholders. Companies must ensure timely and accurate filing of the form to avoid any penalties and ensure smooth business operations.
Other Related Blogs: Section 144B Income Tax Act
Frequently Asked Questions (FAQs)
Q: What is Form DPT-3?
A: Form DPT-3 is an e-form that needs to be filed by all companies registered in India, except for certain exemptions, to disclose the details of outstanding loans or borrowings taken by the company.
Q: What is the purpose of filing Form DPT-3?
A: The purpose of filing Form DPT-3 is to increase transparency and accountability in the financial transactions of companies and to keep a check on illegal or unauthorized loans.
Q: What are the details required to be furnished in Form DPT-3?
A: The details required to be furnished in Form DPT-3 include the details of the company, outstanding loans or borrowings taken by the company, details of deposits accepted by the company, details of any transaction not considered as deposits, and details of default made in the repayment of deposits or interest thereon.
Q: When is Form DPT-3 required to be filed?
A: Form DPT-3 needs to be filed on an annual basis, and the due date for filing the form is 30th June of every financial year.
Q: What are the penalties for non-compliance with Form DPT-3?
A: In case a company fails to file Form DPT-3 within the specified time period, then it will be liable to pay a penalty of Rs. 5,000 per day until the form is filed. Moreover, if any false or incorrect information is furnished in the form, then the company and its officers will be liable to pay a fine of up to Rs. 25 lakhs or imprisonment of up to 7 years or both.
Q: Who is exempted from filing Form DPT-3?
A: Banking companies, Non-Banking Financial Companies (NBFCs), Housing Finance Companies, Companies registered under Section 8 of the Companies Act, 2013, Government companies, and Wholly-owned subsidiaries are exempted from filing Form DPT-3.
Q: How to file Form DPT-3?
A: Form DPT-3 can be filed online on the MCA (Ministry of Corporate Affairs) portal by downloading the form in excel format, filling in the required details, generating an XML file of the filled-up excel file, uploading the generated XML file on the MCA portal, and paying the required fee for filing Form DPT-3.
Q: Is it mandatory to file Form DPT-3? A: Yes, it is mandatory for all companies registered in India, except for certain exemptions, to file Form DPT-3 to disclose the details of outstanding loans or borrowings taken by the company.
