No it cannot be set off because Government does not impose any tax on Long Term Capital Gain where STT is paid hence no benefit for the Government where assessee earns LTCG. Entire Gain bekongs to the assessee. Similarly when the assessee incurs Long Term Capital Loss it is to be borne by the assessee only and he cannot claim set off.
Thank you Sir. Sir I made long term capital gain of rs 12000 by selling shares of one company and long term capital loss of rs 4000 by selling shares of another company in same financial year, in both cases stt paid, then while showing gain in itr form should I write long term gain as 12000 or as 8000 please advice