__________ is that portion of the subscribed capital which has not been demanded by the company. The company may collect this amount any time when it needs further funds :-

When a company issues shares, it may not demand the entire face value of shares immediately from shareholders. Instead, it calls the amount in stages like application money, allotment money, first call, second call, etc.

Uncalled Share Capital is the portion of the subscribed capital that the company has not yet demanded from shareholders. This amount remains with the shareholders and can be called by the company whenever it requires additional funds in the future.

Understanding through an example:

If a shareholder subscribes to 100 shares of ₹10 each:

• Total subscribed value = ₹1,000
• Company calls ₹6 per share (₹2 on application, ₹2 on allotment, ₹2 on first call)
• Amount called = ₹600
• Uncalled capital = ₹400 (₹4 per share × 100 shares)

This ₹400 can be demanded by the company later when it needs funds, through subsequent calls.

The other options are incorrect because:

• Un-issued Share Capital → Part of authorized capital not yet offered to public
• Un-subscribed Share Capital → Part of issued capital not taken up by investors
• Un-paid Share Capital → Amount already called but not yet received from shareholders

The correct answer is Uncalled Share Capital as it specifically refers to the subscribed amount that hasn't been demanded yet but can be collected when needed.