Chandan Agarwal Chartered Accountant Kolkata explains DPT-3 Form Submission by Companies to ROC

June 29, 2019 at 09:23 AM EDT

Chandan Agarwal Chartered Accountant Kolkata on submission of Form DPT-3 to Ministry of Corporate Affairs, Government of India (ROC) by Companies in India

kolkata, Jun 29, 2019 (Issuewire.com) - Chandan Agarwal, Director of Chandan Agarwal & Co. (Chartered Accountants), explains the submission process of Form DPT-3 by Companies to Ministry of Corporate Affairs (ROC), Government of India.

Chandan Agarwal, a graduate of Cambridge University, U.K., and Chartered Accountant, heads the Chartered Accountancy Firm - Chandan Agarwal & Co., which has grown to become one of the largest assurance service providers in India over the last 7 years.

There have been several questions raised recently by Companies, Chartered Accountants and Company Secretaries on the applicability of Form DPT 3 upon Companies, Due-Date of submission, Form error, etc. In an exclusive publication by Chandan Agarwal & Co. (Chartered Accountants), they have addressed the issues being faced by the business community as follows (excerpts from Official Website of Chandan Agarwal & Co.):

DPT-3 form is applicable to all companies except:-

a government company
a banking company
a non-banking financial company registered with the Reserve Bank of India
a housing finance company registered with the National Housing Bank established under the National Housing Bank Act, 1987.

However, insurance companies are registered with IRDA, so the obligation to file DPT-3 is also applicable to them.

The e-form DPT-3 is a dynamic form which works on the basis of radio button selected by the user.

Q. What are the due dates of filing Forms DPT-3?

Ans. In case of one time return: 29th June, 2019 and in case of annual return: 30th June, 2019

Q. In which cases auditor's certificate is mandatory to be attached?

Ans. Auditor's certificate is mandatory only in the case when a return of deposit is filed, i.e., when the radio button two or four is selected.

Q. What are the amounts which have to be entered in the forms?

Ans. In case of one-time return: Consolidated amount received on or after 1st April 2014 and outstanding as on 31st March 2019.
In case of annual return: Amount outstanding as on 31st March 2019 received at any time.

Q. What to do if the object clause prefilled is not matching with the object of the company?

Ans. This is due to the reason that the objects clause is not in sync with the MGT-7 and it is picked on the basis of the CIN of the company.
As per the discussion, stakeholders are advised not to raise tickets in this regard and ignore what is being pre-filled.

Q. If the company does not have any outstanding amount as on 31st March 2019, is the e-Form DPT-3 required to be filed?

Ans. No, the company does not have to file any return.

Q. Is the interest along with the principal amount of the loan to be reported?

Ans. If the interest amount is outstanding as on 31st March 2019, then yes it also has to report as a consolidated figure with the principal amount under the respective head.

Q. Which date Company needs to mention in Column No. 7 "Date of the last closing of accounts?

Ans. The date will be 31st March 2019.