Deposit amendment rules

This query is : Resolved

nitha (Querist)
Follow

30 May 2019 Hi All,
As per new Deposit rules, the company needs to file a onetime return and annual return for outstanding receipt of money not considered as deposit. I want to know
a) whether we need to file two returns i.e., one time return from 01.04.2014 to 31.03.2019 and annual return for 01.04.2018 to 31.03.2019 ?
b) Do we need to get the auditor's certificate and attach the same to the form ?

Thanks

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

30 May 2019 + One time return is for money received and not considered as
deposits - Rule 16A(3)

+ Yearly return is for deposits - rule 16.

nitha

nitha (Querist)
Follow

03 June 2019 Sir,

But the rule 16 talks about Form DPT 3 which is applicable for both deposit and amount not considered as deposit. So, is it not required to file the form not amount not considered as deposit annually

Upgrade to CAclubindia Pro. Subscribe Now!

Asha Kanta Sharma

Asha Kanta Sharma

(Expert)
Follow

21 July 2024 Under the new Deposit rules introduced by the Ministry of Corporate Affairs (MCA) in India, specifically referring to the filing requirements for Form DPT-3, here are the clarifications to your queries:

a) **Filing Requirements**:
- **One-Time Return**: Yes, you need to file a one-time return in Form DPT-3 covering outstanding receipts of money not considered as deposits from 01.04.2014 to 31.03.2019. This is required to be filed by companies to report outstanding amounts received which do not qualify as deposits under the Companies Act, 2013.
- **Annual Return**: Additionally, you also need to file an annual return in Form DPT-3 for each financial year. This annual return is applicable from 01.04.2018 onwards, covering the period from 01.04.2018 to 31.03.2019.

b) **Auditor's Certificate**:
- As per Rule 16 of the Companies (Acceptance of Deposits) Rules, 2014, Form DPT-3 requires the attachment of an auditor's certificate only in specific cases related to deposits, not for amounts not considered as deposits. For amounts not considered as deposits, an auditor's certificate is not mandatory under the current rules. However, you should ensure compliance with any specific instructions or updates from the MCA regarding filing requirements.

c) **Form DPT-3 for Amounts Not Considered as Deposits**:
- Form DPT-3 is indeed applicable for both reporting deposits and amounts not considered as deposits. For amounts not considered as deposits, you are required to file this form annually to report the outstanding balances as of the end of each financial year.

In conclusion, you need to file:
- A one-time return in Form DPT-3 for the period from 01.04.2014 to 31.03.2019.
- An annual return in Form DPT-3 for each financial year starting from 01.04.2018, covering the period from 01.04.2018 to 31.03.2019.

Ensure compliance with the reporting requirements specified under the Companies (Acceptance of Deposits) Rules, 2014, and any subsequent amendments or notifications issued by the MCA. It's advisable to consult with a company secretary or a legal professional specialized in corporate compliance to ensure accurate and timely filing.