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Can short term capital loss be set off against short term capital gains?

Your short-term capital loss can be set-off against both long-term and short-term capital gains from funds

I have short term capital loss in shares. Can I set it off against short term gains from debt mutual funds?
-Palanisamy

Yes, you can set off your short-term capital loss from stocks against short-term gains from debt funds as well as long-term capital gains from equity and debt mutual funds. Moreover, the loss which could not be set-off during the current year, can be carried forward for a maximum of 8 years (provided the tax return is filed within the prescribed due date) and can be set-off against capital gains arising in future years.

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