DPT-3 Query

[pranav amlani]

Dear Professional Members,

We have already filed Form DPT-3 one time form, which is not considered as deposit under rule 2(1)(c) of the Companies(Acceptance of Deposits) Rules, 2014.

Now we have a query that do we need to file DPT-3 yearly form to be filed before 30.06.2019?

Please advise.

Thanks in advance.

Regards.

Pranav

[Parul Choudhary]

Dear Members,

I have a query as well, we had done preferential allotment last year and some foreign investment is there but due to some reasons the excess share application money was not refunded as on March 31 but now it was refunded, so how can i treat in DPT-3.

Thanks & Regards

Parul

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[CS V Kartik]

Dear Pranav,

Yes you will have to file annual return also

[CS V Kartik]

Dear Parul,

In my view, since share application money is not refunded, the same will be treated as deposit & you will have to select the 2nd radio button for the same, which has to be filed by attaching Auditors certificate as well.

[pranav amlani]

Thank you Kartikji,

Just to clarify, both the figures would be same?

Thanks.

On Fri, 14 Jun 2019, 9:40 p.m. CS V Kartik, <karv...@gmail.com> wrote:

Dear Pranav,

Yes you will have to file annual return also

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[CA Prateek Garg]

A private limited company have only following liabilities in its balance sheet - 

1. Normal Trade Payable (Payable to suppliers of Goods)

2. Liability towards Directors for expenses incurred by them on behalf of company.

3. Liability towards Employees for expenses incurred by them on behalf of company

Query 

1. Now my question is whether they are deposit at all. Here I am not asking about exemption under rule 2(1). I want to understand whether they are covered by the generic meaning of deposit given in section 2(31)?

In other words can we say they aren't deposit in first place u/s 2(31) and hence company holds no deposits (neither prohibited nor regulated nor exempted) and hence company need not file its DPT-3 or may file a NIL DPT-3?

2. And if they are within the definition of deposits, they are exempted under which clause of Rule 2(1) ?

Thanks & Regards

 

CA Prateek Garg

 

PRATEEK GARG & COMPANY

Chartered Accountants

307, 65A, PH Complex, Vijay Block, Laxmi Nagar, Delhi - 110092

Mob. 88 2638 0962 | E Mail. pratee...@gmail.com

" Think GREEN, Save Earth " 
P Print only if essential. 
SAVE TREES

[Hardik Jetani]

The above categories neither cover under provision of Deposit not Exempt Deposit. It can be consider as other current liabilities in routine business transactions. As per my opinion, no DPT-3 is required to be filed. 

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Thanks & Regards,

CS. HarDik JeTani

(CS., B.COM)

Mo.:+91 94082 30805

E-Mail ID: cshar...@gmail.com

[CS V Kartik]

Dear Mr. Pranav,

Whether the figures will be same or not, depends upon the situation.

For initial return, you need to show the total amount from 01/04/14 to 31/03/19 whereas in annual return, you need to show the figures from 01/04/18 to 31/03/19.

So if the situation is such that there are no loans or deposits outstanding prior to 01/04/18 & transactions has only took place thereafter ie 01/04/18, then the figures for both the returns will be same.

Hope this clarifies..

[pranav amlani]

Hello Kartikji,

Good wishes.

Thanks for the clarification and yes it has cleared my doubts.

Thanks & Regards.

Pranav

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[Praveen Bajantri]

Dear Kartik Ji, 

                                       

Please advise, Our Company has not received any deposit, however it has some liabilities which fall under radio button 1 & 3. to file DPT-3 return "Auditor Certificate is necessary ?. 

Regards

Praveen 

On Fri, Jun 14, 2019 at 9:41 PM CS V Kartik <karv...@gmail.com> wrote:

Dear Parul,

In my view, since share application money is not refunded, the same will be treated as deposit & you will have to select the 2nd radio button for the same, which has to be filed by attaching Auditors certificate as well.

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Regards

Praveen

[Anjali Gupta]

Dear Learned members,

Please help on my query related to filing of Form DPT 3.

There is a private company which has accepted loan from shareholders and acceptance of loan from members is exempt for private companies as per MCA notification dated June 5, 2015.

As the loan from member does not fall under exemption list of Rule 2 (1)(c) and the amount is outstanding as on 31.03.2019, where this amount is required to be reported in Form DPT 3?

Your earlier response will be highly appreciated.

Thank you

Anjali

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[ruchi sikka]

In my view "Liability towards Directors for expenses incurred by them on behalf of company" should be looked into in detail. If its only some travel or day to day expenses reimbursed to director within a reasonable time (i.e within a month's time) we can ignore it. But if large no. of expenses are incurred by director or if they are standing in books since say more than 6 months, it should be categorized under loan from director. Thus, should be shown as non-deposits in DPT-3.

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[PRIYANKA VYAS]

As per today's webinar... Yes....in promoter category in point nmbr 15..

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[CS V Kartik]

Dear Mr. Praveen,

Auditors certificate is not mandatory if you are selecting the 1st & 3rd radio button.

This is stated in the help kit of the form as well.

[CS V Kartik]

Dear Anjali ji,

Loan taken from shareholders will not be considered as exempted deposit. Hence for this purpose, the 2nd radio button will have to be selected & filed accordingly by attaching Auditors certificate.

However if there's a case where there's both loan from director as well as from shareholders & the same is outstanding as on 31/03/19, then this means there are both exempted deposit & deposit. Therefore, the 4th radio button will have to be selected & filed accordingly by attaching Auditors certificate.

[CS V Kartik]

Reimbursement of expenses incurred by director will neither be considered as a loan nor advance as nomenclature of loan is different because of its terms and condition like rate of interest. Hence the same will appear in balance sheet as Current Liability & transactions like these need not be reported in e-form DPT-3.

[Praveen Bajantri]

Dear Kartik Ji, 

Thank You

Regards

Praveen 

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Regards

Praveen

[Rajesh]

Dear Kartikji,

Loan taken from Shareholder within the limit prescribed will be an exempted Deposit, provided provisions of Sec.73(2) and Rules made thereunder are complied with.  Then in such cases where should the loan from Shareholder be reflected in Form DPT-3

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[PREETI AGRAWAL]

In case loan taken from members is within prescribed limits, then it is treated as exempted deposits and there is  no need of complying with provisions of Sec 73(2)(a) to (e)

It is  to be shown in pt no 15(m)(viii) as it is most suitable option

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Regards,

Preeti Agrawal

Company Secretary

Cell No-9850084716

[Rajesh]

Preetiji, but still you will have to pass Ordinary Resolution [73(2)] and other formalities given under Rules, like maintaining liquid funds etc.

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[PREETI AGRAWAL]

Yes. 

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[CS V Kartik]

Kindly go through Rule 2(1)(c) & check if loan received from shareholder is an exempted deposit. I could not find them.

Even in the webinar held yesterday, it was mentioned as non-exempted deposit.

[Ajay Saharan]

Dear All,

A Company having foreign branches and company foreign branches advance from customer. 

now, whether we need to consider these advances during the filing of DPT-3

regards

Ajay

[Naveen Kumar]

yes of course...

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Thanks & Regards

Naveen Kumar

[Henil Babariya]

Dear Members,

At the time when we prefill the form, the main object of the company are not automated fill. pl suggest what can we do..

Thanks

[Pankaj CS]

What if the same shareholder is director also and has given loan exceeding 100 % of paid up capital (no reserves as company recently incorporated in 2018). I am talking about private company.

[Rinki Goyal]

treat it as loan from director

On Fri, Jun 28, 2019 at 12:02 PM Pankaj CS <panka...@gmail.com> wrote:

What if the same shareholder is director also and has given loan exceeding 100 % of paid up capital (no reserves as company recently incorporated in 2018). I am talking about private company.

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Regards,

Rinki Goyal,

Rinki Goyal & Associates.

PCS

Mumbai

[CA Sumit Parolia]

not a problem just write ur company main object.

Regards,
FCA SUMIT PAROLIA
S PAROLIA & ASSOCIATES
Practicing Chartered Accountants
Kolkata

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[Gopika]

If it is not getting prefilled, we have to enter as per MOA.

[Henil Babariya]

Dear Members,

Private limited company A having capital 1 Lakhs at the same time company networth (49300) and unsecured loan has around 30 core which is borrow in April 2018.

What can we do for this borrowing not considered as deposit and if consider as deposit, how can we remove penalty of acceptance of deposit by private limited company

Thanks in advance.

[Henil Babariya]

Dear Members,

Is there is any chances to relief in fees of filling DPT-3 filling after due date.

Thanks.

[Henil Babariya]

Dear Members,

A private limited company has no change in borrowing during the year, then company has to be filed Annual DPT-3 Form ?

If the company has not filed any form one time and annual also how can we know that company make a default in filling the form ?

Thanks in advance.