DIFFERENCE

Save Share

This query is : Resolved

Quick Summary

This discussion clarifies the distinction between miscellaneous income and miscellaneous receipts, defining income as earnings outside core operations and receipts as money received in any form. It also explains the difference between secured and unsecured loans, with secured loans backed by assets like property or vehicles, and unsecured loans, such as credit cards and personal loans, relying on creditworthiness.

P. SHARMA

P. SHARMA (Querist)
Follow

03 May 2020 Please inform me , difference between MISC INCOME & MISC RECEIPT.

Please inform me , difference between SECURED LOAN & UNSECURED LOAN with example.

c.bakshi

c.bakshi (Expert)
Follow

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

Message likes : 1 times

c.bakshi

c.bakshi (Expert)
Follow

04 May 2020 example of secured loan is loan against property and unsecured loan is money taken from directors

Aashok Kumar Sharma

Aashok Kumar Sharma

(Expert)
Follow

09 May 2020 Secured Loans Examples:
Mortgage
Home Loans
Auto Loan
Recreational Vehicle Loan
Secured Credit Cards
Secured Personal Loans

Un-Secured Loans Example:
Credit cards,
Student loans,
Personal loans

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now