A neutralization reaction takes place between-

When acid and base react with other, they neutralize each other as the effect of ${\mathrm{H}}^{+}$ ions is cancelled out by the effect of ${\mathrm{OH}}^{-}$ ions resulting in the formation of salt and water. Hence, this reaction is called a neutralization reaction.

$\mathrm{Acid} + \mathrm{Base} \to \mathrm{Salt} + \mathrm{water}$

Thus, the correct option is (B).