Producer: Peuli Bakshi
The Enforcement Directorate (ED) and the Income Tax (IT) Department are two different government agencies that have a significant set of roles in financial enforcement and taxation. Read to know about them.
The ED is a law enforcement agency under the Department of Revenue, Ministry of Finance, in India. It detects economic offences like money laundering, economic fraud and foreign exchange violations.
ED has been allotted the power to investigate and order the attachment of properties and assets involved in illegal activities.
ED can also enforce the provisions related to the confiscation of properties belonging to Fugitive Economic Offenders (FEOs) who have left India to evade legal procedures.
The IT collects revenue from taxpayers on behalf of the government. This department was started after the passing of the Income Tax Act of 1922, to consolidate the law relating to Income Tax and Super Tax.
This department has been given the power to search the office and business premises, residences and other places followed by seizure of documents, money etc.
Unauthorized individuals cannot enter and the people inside the property cannot leave during its search, without permission from the search team's authorised officer.