Urban agricultural land sales are subject to capital profits tax. It is 20% in the long run with indexation advantages. This has been reduced, effective July 23, 2024, from 20% to 12.5%. However, the advantage of indexation that was previously provided on the sale of long-term assets has been terminated. On the other hand, the government has offered taxpayers the choice to calculate taxes at 12.5% without indexation or 20% with indexation on land acquired before July 23, 2024. Additionally, you only temporarily held the land at the then-applicable slab rates.