Relaxation in paying additional fees in filing DPT3 for Financial Year ended on 31st March 2023 to 31st July 2023

Posted On - 26 July, 2023 • By - King Stubb & Kasiva

The Ministry of Corporate Affairs (“MCA”) has granted an extension for filing Form DPT-3, which pertains to the return of deposits, by one month. The original due date of June 30, 2023, has been extended to July 31, 2023. This decision comes in light of the transition of the MCA-21 Portal from Version-2 to Version-3. The Ministry issued the announcement through General Circular no. 06/2023.[1]

Form DPT-3 has to be filed by all the companies, with the exemption of Government companies and Non-Banking Financial Companies (“NBFCs”) which are registered with the Reserve Bank of India (“RBI”) who are not required to file this form.

Form DPT- 3 mentions Return of Deposits that companies must file to furnish information about deposits and/or outstanding receipts of loans or money other than deposits.

According to rule 16 [2] of the Companies (Acceptance of Deposits) Rules, 2014 (Deposit Rules), DPT-3 must be filed by all the companies except Banking Companies, NBFCs, and Government Companies.

Rule 16 of the Deposit Rules: Return of deposits to be filed with the registrar:

Every company to which these rules apply shall on or before the 30th June of every year (changed to 31st July for the Financial Year ended 31st March, 2023) file with the registrar, a return in Form DPT-3 along with the fee as provided in the Companies (Registration Offices and fees) Rules, 2014 and furnish the information contained therein as on the 31st day of March of that year duly audited by the auditor of the company.

The extension of the deadline is advantageous to companies and organizations since it provides them with more time to finish the reporting requirements for the financial year that ended on March 31, 2023. By extending the date, companies or businesses can avoid paying additional fees for filing documents beyond the deadline. This decision acknowledges the challenges posed by the MCA-21 Portal’s transition while attempting to simplify the filing procedure for businesses.

[1] https://www.mca.gov.in/bin/dms/getdocument?mds=GZbzY8G5s24kITjoGKWLQQ%253D%253D&type=open 

General circular no. 06/2023,21st June 2023

[2] https://ca2013.com/wp-content/uploads/2016/08/The-Companies-Acceptance-of-deposits-rules-2014-dated-31032014.pdf