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<h1>Section 38(2) FEMA: Officers Granted Income-Tax Authority Powers for Evidence, Search, and Seizure with Conditions</h1> Officers under Section 38(2) of FEMA are granted powers similar to those of income-tax authorities as per the Income-tax Act, 1961. These powers include discovery and production of evidence, search and seizure, requisitioning books of account, calling for information, conducting surveys, collecting certain information, and inspecting company registers. However, these powers are subject to conditions and limitations set by the Central Government.