Can STCL be adjust with STCG

yes it can be adjusted

Speculation loss can be adjusted against speculation income.

yes I agree with tushar and other CCI family views

yes it can be adjusted

@ Mr JHA

Pls understand that wat u referred above r tax rates n are mentioned in diffrent chapter of IT ACT,1961.

Setting off Losses are governed by different chapters of it. Both chapters function independently.

Speculative  loss even if short term can be still be set of  against Speculative income of long term in nature, for which even rates are dfiff ................so there is no comparison as such u can make.

Hope ur cleared.

@ Mr JHA-

I think u dont understand the question originally asked by Mr Sanjay Kumar.

He asked "short term capital loss on equity"

which itself denotes that it  is a speculative transaction n not an  short term investment????????

Since short term is always less than 12 months of holding shares as per IT ACT.

Hope now ur crystal clear in all aspects of this doubt.

even I have the same doubt...Mr.Sanjay asked about Short term capital Loss and Gain.....nothing is mentioned about Intraday trading......then how we can treat it as speculation business?please clarify....

Pls contact Mr sanjay for further doubts to be solved of urs.

as per my knowledge u CANT adjust it.

reasons:

1)short term capital gains(be it positive gain or negative gain i.e. STCL) on equity shares n equity orietned funds are governed by sec 111A and accordingly charged at 15%.

2)whereas STCG on debentures are charged at normal slab rate i.e. @ 30%.

3)so STCL on equity shares on which gain is charged  @ 15% cannot be adjusted against STCG on debentures on which gain is charged @ 30% as it would be in appropriate to set off loss which is otherwise chargeable @ 15% from gains on debentures which is chargable @ 30%.