nagpur even though finance minister arun jaitley did not raise the income tax it exemption limit taxation experts have given thumbs up to the budget they praised the efforts of the government to simplify it appeal procedures but there were mixed reactions on the voluntary income disclosure scheme the decision to set up a body to check ponzi schemes was been lauded investment consultant ranjit dani said that the government decision to crack down on ponzi schemes was important for nagpurians as they had been victims of several such schemes till now the promoters got away even without registering with rbi sebi or mca now if you take money from investors you will have to get registered he said a lot of black money has been invested in real estate and it needs to be taken out in this voluntary disclosure scheme you can declare your assets too it is unfair to honest tax payers but is necessary dani said chartered account kailash jogani slammed the government for introducing a voluntary income disclosure scheme the supreme court has said that such schemes demotivate honest tax payers he said the ca said that the move to increase the limit of presumptive taxation from rs1 crore to rs2 crore will help small businessmen but added that the government should have said that it will check the source of income otherwise it will lead to money laundering he said he flayed the government for imposing a 10 tax on dividend for investors who earn above rs10 lakh we have triple taxation now which is not justified he added ca rajesh loya said that the government should have increased the it limit as it would helped the salaried class as for the disclosure scheme only those people who had evaded tax four to five years ago will participate in it he further said adding that the government had taken steps for simplifying taxation appeal procedure sharad bhattad senior standing counsel to income tax department said that the budget had given a big relief by giving rental expenses deduction from rs24000 to rs60000 relief of rs3000 to tax payers with income of rs5 lakh would benefit more than rs1 crore small tax payers