04 May 2020
1. mis. income is the money received on account of any income which is not your earned by using your operating activities whereas mis receipt is on account of money received in any mode. e.g. you sale your daily newspaper as 'raddi' is your mis. income and when your receipt it can be termed as mis receipt. 2. secured loan always accompanies with some guarantee which might me movable or immovable assets and whereas unsecured loan which is not secured by some guarantee which might me movable or immovable assets. i hope you clear
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