(i) Money received in respect of capital on shares forfeited is Rs. 5. Therefore, maximum permissible discount to be allowed is also Rs. 5.
(ii) Money received in respect of Capital is Rs. 4 (that is, total money received less premium money received ), therefore, maximum permissible discount which can be allowed at the time of reissue is Rs. 4.
(iii) In this case, money received on shares forfeited in respect of capital is Rs. 5, and , therefore, this is the amount of maximum permissible discount.