Set off, or Carry forward of losses.

Within head - Intra head - adjustment.
As per section 70 -

1. where net results for any assessment year, is loss under any head except CG, then such loss can be set off against any source of income.

2. Loss of Short Term CG can be set off against Long as well as short term capital gain.

3. Loss of Long term CG can be adjusted against long term capital loss only.

4. Speculative loss with speculative profit only.

5. Loss of exempt income will not be entertained.

INTER HEAD - ADJUSTMENT.
Section 71 -

1.where the net results of any head except CG, is loss, and assesses have no income under the head CG, can be set off against any head of income.

2. where the net results of any head except CG, is loss, and assesses have income under the head CG,
can be set off against any head of income including CG.

3. PGBP lossess cannot be set off against Salary income.

4. CG loss can not be set off against any other head.

5. HP loss can be set off against any head of income.

NOTE :
CG - CAPITAL GAIN
PGBP - PROFIT & GAINS FROM BUSINESS OR PROFESSION
HP - HOUSE PROPERTY