How to file DPT-3 in case of Loan from shareholder?

Summary

In this editorial author going to discuss how to file DPT-3 form when a Private Limited/ Public Limited Company having loan from shareholders (HUF, Trust, Individual etc.)

As per exemption notification dated 05th June 2015 and 13th June 2017, Private Limited Companies are allowed to accept Loans from Shareholders of a Company after following the process mentioned under Section 73 of Companies Act, 2013.

Point of Editorial

Where to mention loan from shareholder in e-form DPT-3?

As e-form DPT-3 divided under four remote buttons:

i. Onetime Return for disclosure of details of outstanding money or loan received by a company but not considered as deposits in terms of rule 2(1)(c) of the Companies (Acceptance of Deposits) Rules,
2014

ii. Return of Deposit

iii. Particulars of transactions by a company not considered as deposit as per rule 2 (1) (c) of the Companies (Acceptance of Deposit) Rules, 2014

iv. Return of Deposit and Particulars of transactions by a company not considered as deposit

Deposit: As per definition of deposit, it is not mentioned anywhere that companies can accept loan from shareholder. However, if a company (private or public) accept loan from shareholder it shall be considered as Deposit and required to comply with compliances mentioned under Section 73 of Companies Act, 2013.

Exemption Notification: Due to exemption notifications to Private Limited Company, if private company accept loan from shareholders, they don't require to comply with provisions of Section 73(2)(a) to (e).

Loan from shareholder as Deposit: However, after these notifications private companies can accept loan from shareholders. But this loan shall be considered as Deposit Only.

In other words, we can say, loan from shareholder shall be considered as allowable deposit for private limited company.

Conclusion

As loan from shareholder shall be considered as deposit even for private limited Companies.

Therefore, if companies having loan from shareholders as on March 31, they have to select remote button no. 2 i.e. 'Return of Deposit' to show this amount.

One can opine that to show loan from shareholder Company always will select Remote Button No. 2 or Remote Button no. 4.