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

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

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

• 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.