Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

English definition of “income tax deduction”

income tax deduction

noun [C or U]    
TAX an amount of money, such as the cost of something that you need to do your work, that the tax authorities allow you to subtract from your income before you calculate your tax payments: Journalists' unions want a 30% income tax deduction for professional expenses.
(Definition of income tax deduction noun from the Cambridge Business English Dictionary © Cambridge University Press)
Focus on the pronunciation of income tax deduction

Word of the Day

handout

a document given to students or reporters which contains information about a particular subject

Word of the Day

Blog

Read our blog about how the English language behaves.

Learn More

New Words

Find words and meanings that have just started to be used in English, and let us know what you think of them.

Learn More