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of <h1>Understanding Income Tax Loss Set-Off Rules: Speculative, Capital, and Section 35AD Business Losses Explained</h1> Restrictions for intra-head loss adjustments under income tax laws include: Speculative business losses can only be set off against speculative business income, while non-speculative business losses can offset speculative business income. Long-term capital losses are only set off against long-term capital gains, whereas short-term capital losses can offset both long-term and short-term capital gains. Losses cannot be set off against income from lotteries, gambling, or similar activities. Losses from owning and maintaining racehorses are only set off against similar income. Losses from businesses specified under section 35AD can only be set off against income from those specified businesses.
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