Applicability of DPT-3 to Private Limited Companies

[email...@gmail.com]

Dear Sir / Madam,

Should we file DPT-3 for any borrowings from directors in case of all private limited companies on or before 30th June, irrespective of turnover.

Since audit is pending for previous financial year, shall we file with the last audited figures of the year ending 31st march 2020.

Kindly clarify asap.

Thanks.

[Tanvi Aggarwal]

Yes.

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Regards

Tanvi- Aggarwal
9999629990

[Mohan Ramaswami]

Yes , need to file. 

loan from directors as on 31.03.2021 and date of closure of accounts will be 31.03.2021; and net worth based on previous years audited figures 31.03.2020

Hope that this is NOT the first return ur filing for the co.

if it is first return then there are 2 DPT's to be filed viz. 

Onetime Return for disclosure of details of outstanding money or loan received by a company but not

considered as deposits in terms of rule 2(1)(c) of the Companies (Acceptance of Deposits) Rules, 2014 

AND

Particulars of transactions by a company not considered as deposit as per rule 2 (1) (c) of the Companies

(Acceptance of Deposit) Rules, 2014

regards,

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CS. R.  Mohan
Mobile: 9908814677

[email...@gmail.com]

Thank you so much for the prompt reply, but the issue is that the accounts are not finalized and 30th June is very near.

I was thinking of putting the last audited figures, if any discrepancy arises, we can always say later changed by auditor.

[Tanvi Aggarwal]

The loans amount and all should be as of 31.03.2021. However, the papaid up capital and free reserves required to be mentioned shall be of 31.03.2020.

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[Naveen Kumar]

borrowing from Directors is exempt, so no need to file DPT-3....

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​Thanks & Regards

CS Naveen Kumar

(Practicing Company Secretary)

Mo. No. - 9452865114

[shivani jain]

No, 

Dpt 3 should be filed even if the borrowings are from director.... 

Sent from my iPhone

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[Ronak Gupta]

Dpt-3 is now not remained just as return of deposits. It has also become return of exempted deposits as well.

Ronak Gupta
Company Secretary
Delhi
9910226715

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[Rashmi m r]

Dear Members,

1. If purpose of filing DPT-3 is:  Particulars of transactions by a company not considered as deposit as per rule 2 (1) (c) of the Companies (Acceptance of Deposit) Rules, 2014

Whether auditors' certificate or any other attachment is required ?

2. If audit for 31.03.2021 is not completed and DPT-3 is filed with unaudited values of loans from Directors. Subsequently, post audit, there are changes in the values entered, what is the procedure for rectification of DPT-3?

Looking forward to your replies.

Regards,

Rashmi

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[Priya Nandwana]

Dear All, 

Greetings of the day !!

Applicability of One time Return : If Loan from directors in between 01 April 2014 to 31st March 2019 (i.e. if loan is outstanding as on 31st March 2019) only in that case OTR is required to be filed.

One time return was only for those outstanding receipts of money or loan which were taken by the company  in between 01 April 2014 to 31st March 2019 and were outstanding as on 31st March 2019 otherwise only annual return is needed to be filed after the financial year 2018-19.

For the FY 2019-20 only Annual Return is required to be filed.

Please correct me if I am wrong.

On Sat, Jun 19, 2021 at 1:22 PM email...@gmail.com <email...@gmail.com> wrote:

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[Ghundiyal Deepen]

@ Priya Nandwana - We agree with your explanation; 

Thanks and Best Regards,

Deepen Ghundiyal 

Company Secretary

Contact - 99232 44813

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[email...@gmail.com]

If DPT-3 is filed with unaudited figures and after audit, there is a significant difference in figures, what is the procedure for rectification of DPT form filed. 

[CS dipti Bhatt]

Dear Members, 

If there is only director loan, do we need to file DPT3? 

CS Dipti Bhatt

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[CS Rakesh Kumar]

Yes

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Thanks & Best Regards

CS Rakesh Kumar

B.Com, MBA, ACS

Rakesh & Co.

(Company Secretaries)

La Residentia, Tower-18, Flat-104

GH-06A, Tech Zone-IV, Greater Noida (W), Gautam Budh Nagar-201306, U.P.

Cell No.-+91-98119 09137

[Suresh Singh Sountyal]

What is your opinion of all you if loan received from Shareholders (1% shareholders), in this case DPT-3 is required to file

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[ankit tater]

Hello, 

In case the Company is Pvt Ltd Co. and there is amount outstanding from shareholders as on the end of the financial year, the same is required to be reported as deposit in the Form DPT-3. For limits you can refer to the Second proviso to Rule 3 of Companies (Acceptance of Deposits) Rules, 2014.

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[Arjun Gupta]

I think most of us are skipping the main question asked here- i.e. how to rectify Form DPT-3 if some mistake has been occurred while filing the same. 

I can only give my view as per my experience- In FY19-20, while conducting audit of accounts, we came to know that there were some differences in figures entered under advances from customers when compared with Balance Sheet and DPT-3. Later, before 31st December 2020- we filed DPT-3 again for the said co and filed CFSS 2020 accordingly. 

Practically in some of the cases, it is little difficult to assess accurate figures of advances from customers/ loan figures before the conduct of audit- since some of the advances from customers might attract TDS and which in some cases, can not be accurately determined on or before 30th June.

Other Professional views are solicited.

Thanks and Regards
Arjun Gupta | CA, LLB, B.Com (H)

Gupta Arjun & Co

Practicing Chartered Accountants

[CS dipti Bhatt]

Dear Members,

When we are mentioning the loans / borrowings figures (unaudited) as on 31/3/21, in DPT3, But, what will be cosequences for differences found during audit?

CS Dipti Bhatt 

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[Ankita Karnani]

@ARJUN GUPTA....SAME THING IS HAPPENING WITH US FOR ADVANCES FROM CUSTOMER.... WE HAVE TWO OPTION EITHER FILE  DPT-3 AFTER AUDIT WITH LATE FEES OR FILE UNAUDITED FIGURES AND GIVE CLARIFICATION LATER IF IT IS ASKED ...

On Wed, Jun 23, 2021 at 2:46 PM Arjun Gupta <arj...@gmail.com> wrote:

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[Arjun Gupta]

That's true Mr. Ankit. But I think it is not feasible to file the Form DPT-3 after due date along with late fees. As far as I'm aware, filing forms after due date along with late fees still constitute a defaulting act in the eyes of law and ROC may give for some SCN or attract some penal provisions in some special cases as well.

@Dipti Bhatt- In event of any differences in Form DPT-3 Filed and Audited Balance Sheet- we are well aware that it is not possible to revise the same. As per my understanding, all we can do is to file a DPT-3 Form again and we can mention the reason(s)/ explanation(s) for such change in the attachment for a safer side. I don't think we have any other option to rectify the mistake.

Moreover, giving inaccurate figures in Form DPT-3- may attract penal provisions under Section 447, Section 73, Rule 21. 

Do correct me, if someone holds some other view.

Thanks and Regards
Arjun Gupta | CA, LLB, B.Com (H)

Gupta Arjun & Co

Practicing Chartered Accountants

[CS dipti Bhatt]

thank you for your valuable comments.

CS Dipti Bhatt

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