Which agency's raid? Know key differences between ED, Income Tax dept

Difference between the two

Two distinct government organizations with a large range of responsibilities in financial enforcement and taxation are the Income Tax (IT) Department and the Enforcement Directorate (ED).

Work of ED

The Department of Revenue, Ministry of Finance, oversees the Enforcement Directorate. Economic offenses such as foreign exchange violations, economic fraud, and money laundering are detected by it.

Powers of ED

The ED has been given the authority to look into and mandate the attachment of assets and properties connected to illicit activity.

The FEOs

The regulations pertaining to the seizure of properties belonging to fugitive economic offenders (FEOs) who have fled India in order to avoid judicial proceedings may also be enforced by the ED.

Income Tax department Since?

The Income Tax Department came into motion after Income Tax Act of 1922 got passed to combine the laws pertaining to super tax and income tax.

Powers of I-T Dept

The department has been authorized to conduct searches of homes, offices, and other locations, after which property such as cash or papers may be seized.

Cannot leave the area

Anybody not approved by the search teams authorized officer may not enter the property, and those inside cannot leave while it is being searched.