Section 74

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RISHI

227 Points Joined September 2009

SECTION 74 CLEARLY STATES THAT RETURN OF DEPOSIT (DPT-4) SHALL BE FILED WITHIN 3 MONTHS FROM COMMENCEMENT OF ACT OR 3 MONTHS FROM THE DATE ON WHICH SUCH PAYMENTS ARE DUE. IT MEANS IF THERE ARE UNSECURED LONG TERM BORROWING WHICH ARE NOT DUE, RETURN OF DEPOSIT NEED NOT BE FILED. IN OTHER WORDS, IF WE ASSUME THAT THESE PAYMENTS ARE DUE ON 31-03-2015 DUE TO COMMENCEMENT OF NEW ACT, RETURN OF DEPOSIT SHALL BE FILED TILL 30-06-2015. PL. interpret the section.

Replies (2)

CS Divesh Goyal

Practicing Compnay Secretary

52755 Points Joined May 2013

Dear rishi. acco to my view. if at the time of acceting deposit. You decided date of repayment . Then u have to file with in 3 month of due date. But if such date is 31.03.2015 or after that then u have to repay upto 31.03.2015. But if no due date decided at the time of accepting if deposit then u have to file with in 3 mnth of commencement of act. . .