Long-term capital gains tax: higher rate for transfers on or after the cut-off while aggregate exemption limit is retained. The amendment substitutes clause (i) of sub-section (2) so that tax is calculated on long-term capital gains exceeding one lakh twenty-five thousand rupees, applying a lower rate to transfers before the cut-off and a higher rate to transfers on or after the cut-off, while the single aggregate exemption threshold applies across gains taxed under both temporal categories; the substitution operates retrospectively from the cut-off date.