deduction
Definition 1
Accounting: Business expenses or losses which are legally permitted to be subtracted from the gross revenue of a firm in computing its taxable income.
Definition 2
Logic: See deductive reasoning.
Definition 3
Taxation: Fixed amount or percentage permitted by taxation authorities that a tax payer can subtract from his or her adjusted gross income to arrive at the taxable income.
deduction is in the Accounting & Auditing and Information & Knowledge Management subjects.
deduction appears in the definitions of the following terms:
joint return,
withholding tax,
tax deduction,
gross,
gross book value,
expense,
savings scheme,
tax expenditure,
checkoff,
salary reduction plan
and
This content can be found on the following page:
http://www.businessdictionary.com/definition/deduction.html
email to a friend print this definition cite this definition