If a share of ₹100, on which ₹70 has been called but ₹50 is paid up, forfeited, the share capital account should be debited with :

₹70

The correct answer is option 3- ₹70.

Share capital Account will be debited by the called up money i.e. ₹70, if the forfeiture of shares has been done before the last call.

Forfeiture of Shares issued at Par:
Share Capital A/c..........(Called up amount)
        To Share Forfeiture A/c...........(Paid up amount)
        To Share Allotment A/c
        To Share Calls A/c (individually)
(..... shares forfeited for non-payment of allotment money and calls made)