Show cause reply U/s 276B

[Asked by Guest]

One of my client has recieved a show cause notice U/s 276B of depositing the TDs late in the govt treasury.

So i wanna know that how to reply to the show cause and what matters to b included that  wud be teenable.

Can the prosecution be replaced by penalty only??

Please solve this as soon as possible.

AI Summary

Compounding of late TDS deposit offences can avert prosecution; requires payment of interest plus compounding fee and costs.
A show cause for late deposit of TDS can be met by applying to the commissioner for compounding of the offence, agreeing to pay interest for the delayed period, a compounding fee calculated on the default amount, and prosecution establishment expenses; a request for waiver of any penalty may be made, with compounding generally available where the offence is a first offence and the department consents.