Question
Short-term capital loss can be set off against:
Solution
Explanation: Short-term capital loss (STCL) can be set off against both short-term capital gains (STCG) and long-term capital gains (LTCG) in the same financial year. If not fully utilized, it can be carried forward for eight subsequent years to be set off only against capital gains. It cannot be set off against income from other heads.
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