2. Short term capital loss can be set-off against:
(A) Short term capital gain
(13) Long term capital gain
(C) Income under any other head
(D) Either (a) or (b)
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Short Term Capital Losses are allowed to be set off against both Long Term Gains and Short Term Gains. ... If capital losses have arisen from a business, such losses are allowed to be carried forward and carrying on of this business is not compulsory
therefore....(D) Either (a) or (b)
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