Onetime Compliance for all the Companies E Form DPT3

On 22nd January, 2019 MCA came up with a new sub-rule under Companies (Acceptance of Deposits), Rules, 2014 which says that every company (other than government company) shall file an onetime return of outstanding receipt of money or Loan by a Company but not considered as deposits and an explanation is added in Rule 16 of Companies (Acceptance of Deposits), Rules, 2014 in e form DPT-3 .

Onetime Compliance for all the Companies E Form DPT3

Lets understand these provisions one by one.

Rule 16A (3) [Newly added sub rule]

Every company other than Government company shall file a onetime 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 the 01st April, 2014 to the date of publication of this notification in the Official Gazette, as specified in Form DPT-3 within ninety days from the date of said publication of this notification along with fee as provided in the Companies (Registration Offices and Fees) Rules, 2014.”.

Law says, Every Company, be its small company, Public company, Private Company, One Person Company shall file an e Form DPT-3 for a period from 1st April, 2014 to the date of publication of this notification i.e. 22nd Jan, 2019.

Lets cover few FAQs w.r.t this rule.

1.) What is the Last date for filing this form

Law says 90 days from the date of its publication means 90 days from 22^nd Jan, 2019, i.e. 21^st April, 2019.

2.) What period is to be covered for filing this return

The period which is covered for filing this return is from 1^st April, 2014 to 22^nd Jan, 2019.

3.) If a company does not accept any loan or does not having any outstanding loan, then also company need to comply with the provisions of this rule

If company does not accept loan or does not having any outstanding loan, there is not need to comply with the provisions of this rule.

4.) What does Outstanding receipt of money or loan means

Any loan treated as Deposit or not outstanding From 1^st April, 2014 to 22^nd January, 2019.

In nutshell:

Disclaimer:

The entire contents of this article is solely for information purpose and have been prepared on the basis of relevant provisions and as per the information existing at the time of the preparation.. It doesnt constitute professional advice or a formal recommendation. The author has undertook utmost care to disseminate the true and correct view and doesnt accept liability for any errors or omissions. You are kindly requested to verify & confirm the updates from the genuine sources before acting on any of the informations provided herein above.