Section 11A: (a) Income derived by a small enterprise which

11A. (a) Income derived by a small enterprise which does not benefit from exemption under item 11, set up prior to 1 June 2015 and registered under the Small and Medium Enterprises Development Authority Act, provided that – (i) its annual turnover does not exceed 10 million rupees ; (ii) i t is engaged in qualifying activities under a scheme referred to in section 5A of the Small and Medium Enterprises Development Authority Act; 244 Acts 2016 (iii) t he exemption is in respect of income derived from the activities relating to a project under the scheme referred to in section 5A of the Small and Medium Enterprises Development Authority Act; and (iv) the period of exemption of the income of the enterprise does not exceed 4 succeeding income years as from the income year 2015/2016. (b) Notwithstanding this Act, any loss incurred by a small enterprise under paragraph (a) during the period of exemption of its income shall be available for deduction and carry forward under sections 20 and 59. (zd) in the Third Schedule, in Part I – (i) in the second column, by deleting the figures “285,000”, “395,000”, “455,000”, “495,000”, “335,000” and “445,000” and replacing them by the figures “295,000”, “405,000”, “465,000”, “505,000”, “345,000” and “455,000”, respectively; (ii) in paragraph (x) – (A) in subparagraph (A), by deleting the figure “44,500” and replacing it by the figure “34,800”; (B) i n subparagraph (B), by deleting the words “2 million” and replacing them by the words “4 million”; (ze) in the Fifth Schedule, by inserting, in the appropriate alphabetical order, the following new items – Accountant/Accounting firm Tax adviser or his representative Acts 2016 245 (zf) in the Sixth Schedule, by adding the following new items and their corresponding entries –