ILLEGAL INCOME TRANSFER INCOME

37.         ILLEGAL INCOME

TRANSFER INCOME

1.      Meaning It is obtained by unethical means. 2.      Examples It includes income from smuggling activities, black marketing, under hand commission, etc. 3.      Public welfare Illegal income may not generate public welfare, unless it is given away by way of donation to social activities. 4.      Principle of Equity It does not follow the principle of equity. It benefits unethical persons in the society.

It is transferred by Government to certain sections of the society, especially the weaker sections. It includes old age pension, unemployment allowances, scholarships to students, etc. It can generate public welfare. For instance, scholarships to students increase literacy and efficiency level. It follows the principle of social justice or equity, because weaker sections are benefited.