Today I am going to explain the new reporting requirement in the balance sheet by way of note about the money received by the director or its relative and one-time filing of the DPT-3 Form and other requirements of the new rule 16A of the Companies (Acceptance of Deposits) Rules. The new rule was inserted by the Notification dated 29th June 2016, which notified the Companies (Acceptance of Deposits) Amendments Rules, 2016 and inserted two requirements in the law
In can be noted that the due date of filing the Form DPT-3 is 22nd April 2019, however the MCA did not notify the form DPT-3 for this purpose and has issued a general circular on 12th April intimating the stakeholders that since the Form DPT-3 has not been made available for filing, it can be filed within 30 days of its availability on mca portal without any additional fee.
In the final financial statement, a note must be appended with details of money received from the director or its relatives. The relative has been defined in section 2(77) which is further elaborated by the rules. The understanding of the meaning of “relative” under the Companies Act, 2013. is very important and its good understanding is necessary for compliance of various regulations of the companies act and especially the provisions pertaining to deposits, advance money, and loans to the company by the directors or its relatives. A person shall be deemed to be a relative of another, if he or she is related to another in the following manner, namely:-