As 'Calls in Advance' is a liability of the company, it is under obligation, if provided by the Articles, to pay interest on that amount from the date of its receipt up to the date when the appropriate call is due for payment. According to "Table F", interest on calls in advance cannot exceed _____.

12%

Correct answer: Option (3) → 12%

Concept: Calls-in-Advance is a liability on which the company may pay interest as per its Articles; under Table F of the Companies Act, 2013 the rate cannot exceed 12% p.a. – per Accounting for Share Capital.

Interest on calls-in-advance is payable from the date of receipt up to the date the call becomes due. As per Table F, the maximum permissible rate is 12% p.a. (contrast with interest on calls-in-arrears, which Table F caps at 10% p.a.). Hence 12%.