Quick Answer: What Is Not A Deposit?

What is considered as deposit?

Act, 2013: Section 2(31) of the Companies Act, 2013 (‘the Act’) defines ‘deposit’ to include any receipt of money by way of deposit or loan or in any other form by a company, but does not include such categories of amount as may be prescribed in consultation with the RBI..

What is deposit and its types?

Primarily, banks offer two kinds of deposit accounts. These are demand deposits like current/saving account and term deposits like fixed or recurring deposits. When you open a deposit account in a bank, you become an account holder or a depositor. Saving accounts are used to meet daily on-demand requirements of cash.

Are debentures considered as deposits?

debentures and non-convertible debentures are issued to a company or a foreign body, then these are not to be classified as deposits. However, if such debentures are issued to a resident, then these will be considered as deposits unless the debentures are listed on the stock exchange.

What is form dpt3?

DPT-3 form is a one-time return form of loans that has to be filed by a company that has outstanding loans not treated as deposits.

What is public deposit in Companies Act?

Public Deposits: A Public Company having a net worth of not less than 100 crore rupees OR a turnover of not less than 500 Crore rupees AND which has obtained the prior consent of shareholders through Special Resolution AND such resolution has been filed with the registrar before inviting deposits.

What are not considered as deposits?

Transactions not considered as deposits Any amount received from the government or guaranteed by the government, foreign government/foreign bank. Any amount received from a company by a company. Subscription to securities and call in advance.