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of <h1>Wealth-tax Act Amended: Section 34A Interest Rates Reduced Effective June 1, 2002, by Finance Act, 2002</h1> Section 34A of the Wealth-tax Act is amended, effective June 1, 2002, by the Finance Act, 2002. In sub-section (3), the interest rate is reduced from nine percent to eight percent. Additionally, in sub-section (4B), clause (a), the rate changes from three-fourth percent to two-third percent.
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