WE HAVE WRONGLY CLAIM EXEMPTION U/S 10A INSTEAD OF 10B. NOW WE ARE IN RECEIPT OF SHOW CAUSE NOTICE.PLEASE HELP ME OUT. CAN WE GET EXEMPTION AFTER REVISING THE RETURN. IS THRE ANY CASE LAW REGARDING THIS.
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Reply of show cause notice
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Show cause notice means they are requesting you to come and present your case. You can go and tell them that it was an honest mistake and you are ready to pay tax liability arising from using 10B. Replying immediately within the time limit of the show cause notice is vital.
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