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<h1>Interest Rate in Section 234D of Income-tax Act Revised from Two-Third to One-Half Percent by 2003 Amendment</h1> Section 234D of the Income-tax Act, 1961, has been amended by the Taxation Laws (Amendment) Act, 2003. In sub-section (1), the interest rate mentioned has been revised from 'two-third per cent.' to 'one-half per cent.'