Can "Short term capital gain" be set off against "Non-speculative business losses"

General
1

Within the same year,

  1. Suppose I have bought and sold stocks and have made some Short Term Capital Gain.

  2. Suppose I have dabbled in futures and options and made some non-speculative business income losses.

Can these two be set off against each other? Please answer the question for people in all tax brackets.

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2

If you are showing them as short term capital gains, no it cannot be setoff against business income. 

But if you show your short term trading as a business, then it becomes a non-speculative business loss, in which case you can. 

Check this module. 

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