Share options outstanding account appears under which head as per Schedule III of the Companies Act 2013?

Reserves and Surplus

The correct answer is option 2- Reserves and Surplus.

As per Schedule III of the Companies Act 2013, Reserves and Surplus are required to be classified as:
i) Capital Reserve
ii) Capital Redemption Reserve
iii) Securities Premium Reserve
iv) Debenture Redemption Reserve
v) Revaluation Reserve
vi) Share Options Outstanding Account
vii) Other Reserves (Specifying nature and purpose)
viii) Surplus: Balance in statement of profit and loss; disclosing allocations and Appropriation such as dividend, bonus shares, transfer to/from reserve, etc.