Tax on interest

Goongan (Student) (450 Points)

28 January 2008  

Dear Friends, I have following doubt during articalship

 

1.Whether interest from saving bank taxable under income tax act. If yes under which head and section.

2.Interest form Income tax refund taxableunder income tax act. If yes under which head and section.

3.Whether interest from PPF (Public provident fund) taxable or Exempted. If exempted whether u/s 10 or U/s 80C.is it right that ,interest exempted for first fivr year only...