The Enforcement Directorate ED of the Finance Ministry is responsible for I Enforcing the ...........

General Studies(Punjab Allied) Indian Polity

The Enforcement Directorate (ED) of the Finance Ministry is responsible for

I. Enforcing the provisions of the Foreign Exchange Management Act (FEMA)

II. Collection of intelligence regarding possible cases of money laundering

III. Assessment of cases of evasion of Income Tax

IV. Confiscation of property of crime under the Prevention of Money Laundering Act (PMLA) Select the correct answer using the codes given below:

I and IV

Only II

I, II and IV

I, II, III and IV

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Explanation:

- Statement I: Enforcing provisions of FEMA – Yes, the ED enforces the Foreign Exchange Management Act (FEMA).

- Statement II: Collection of intelligence on possible money laundering – Yes, the ED collects intelligence related to suspected money laundering for investigation.

- Statement III: Assessment of Income Tax evasion – No, this is handled by the Income Tax Department, not the ED.

- Statement IV: Confiscation of property under PMLA – Yes, the ED can attach and confiscate properties earned through proceeds of crime under the Prevention of Money Laundering Act (PMLA).

- Option 3 (I, II and IV) is correct. The ED is involved in enforcing FEMA, collecting intelligence on money laundering, and confiscating property under PMLA, but NOT in income tax assessment.

Correct Answer: Option 3 (I, II and IV)