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of <h1>Intra-head set-off: general losses absorb income within head; long-term capital losses only against long-term gains; classify correctly</h1> Both texts treat intra-head set-off similarly: general losses (other than capital gains) may be set off against other incomes within the same head, while capital gains follow special rules. Both the Bill and the Act restrict long-term capital losses to set-off only against long-term capital gains and permit short-term capital losses to be set off against gains from any capital asset; differences are limited to ordering and phrasing rather than substance. Practical consequences include the need for correct short-/long-term classification and supporting records; neither text in the provided materials addresses carry-forward, timing, definitions or administrative procedures.
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