Addressing the gathering on the occasion of Enforcement Day celebrations Finance Minister Jaitley said that ED has all the power to act against those who are evading taxes.
But, Mr Jaitley asked the officials that this power has to be expeditiously used whenever violations are detected. He said, "I hope that the agency and its officials would strictly implement law and help the exchequer raise legitimate revenue."
Giving the economic picture, he said, "As we move from a developing economy to Developed economy, we will also be moving to a voluntary tax compliant society."
Speaking on the occasion, Revenue Secretary Hasmukh Adhia said that the violation of rules are not been made by the individuals only, a large number of companies too are not following the rules.
He said that there are as many as 8 to 9-lakh registered companies who are not filing the annual returns. It is suspected that they were a potential source of money laundering.
He said that action against those may be taken soon as the task force set up by the PMO was monitoring these companies every 15 days.