Net short-term capital losses other than those covered under section 111A can generally be adjusted against any other taxable short-term capital gains for the same financial year.
If there are any unadjusted STCL remaining after adjusting against short-term capital gains, they it can be carried forward for up to 8 assessment years and set off can only be done against future short-term capital gains, not against normal income like salary or business income.
Therefore, STCL other than section 111A cannot be directly adjusted against normal income.
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