Points to be considered while filing form DPT-3-Return of Deposits

1. DPT-3-Return of Deposits is exempted for Government Companies and NBFC Companies.

2. NIL RETURN IS Mandatory.

3. Audit of Financials for FY 2018-19 is not compulsory for filing Form DPT-3

4. As per Rule 16 Figures filled in Form DPT-3 should be audited one for that Auditor Certificate may be obtained.

5.Net Worth should be calculated as per preceding audited statement for this time it will be Audited financial statement for the year ended on 31.03.2018.

6. Net Worth as per Form DPT-3 considers intangible assets but as per definition of Net Worth, Net Worth does not consider intangible assets, so there are chances that Net Worth filled in Form AOC-4 and in Form DPT-3 could be different, So It is advisable to attach Clarification on that.

7. Some important examples for Return of Deposits.

a. Inter corporate Deposit is Exempted one but Loan from LLP is not Exempted one it is Deposit.

b. Loan from Director’s Owned Fund is exempted but from relative of Directors is not exempted

c. Amount from HUF is also Deposit as HUF is not any Body Corporate

d. Any Trade Advance for less than 365 days is Exempted one and Trade advance for more than 365 days is Deposit.

e. Share Application Money due for less than 60 days is Exempted. Share Application Money for more than 60 days is Deposit.

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