Customer advance held with a pvt. co. for more than 365 days

Rajkumar (intern) (31 Points)

13 July 2017  

A pvt company has held customer advance for more than 365 days, Now this advance will be termed as deposits.

Now what is further course of action that such pvt company needs to do.

1. whether It needs to file DPT 3 or

2. The company has non complied with Deposit rules and has to face penal provisions.