I have a loss under the head of 'Long term capital gains'. Can I set it off against income from salaries?

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• I have a loss under the head of 'Short term capital gains'. Can I set it off against income from salaries?

  No. It cannot be set off against income from salaries. It can be set off against short term capital gains or long term capital gains only.

• What are the conditions for intra-head and inter-head set off of losses?

  Loss from speculation business cannot be set of against profit from a non-speculation business, but loss from non-speculative business can be set-off against speculation income. Loss under Capital Gains (Long term or short term) cannot be set-off ...

• I have loss under the head 'Income from House Property'. Can I set it off against income from Salaries?

  Yes, it can be set off against income from salaries BUT only up to Rs. 2,00,000.

• I have a loss under the head of 'Income from business and profession'. Can I set it off against income from salaries?

  No. It cannot be set off against income from salaries.

• Is this benefit available against Short Term Capital Gains?

  No. This benefit can only be claimed against long term capital gains.