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of <h1>Interest Rates Reduced in Section 34A of Wealth-tax Act: Changes in Sub-sections (3) & (4B)</h1> Section 34A of the Wealth-tax Act, 1957, has been amended by the Taxation Laws (Amendment) Act, 2003. In sub-section (3), the interest rate is reduced from eight percent to six percent. Additionally, in sub-section (4B), clause (a), the rate is adjusted from two-thirds percent to one-half percent.
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