Meaning of deduction

Definition of deduction

(noun) a reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer's income bracket
an amount or percentage deducted
something that is inferred (deduced or entailed or implied); "his resignation had political implications"
reasoning from the general to the particular (or from cause to effect)
the act of subtracting (removing a part from the whole); "he complained about the subtraction of money from their paychecks"
the act of reducing the selling price of merchandise

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