Meaning of “deduction” in the English Dictionary

"deduction" in British English

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deductionnoun

uk /dɪˈdʌk.ʃən/ us /dɪˈdʌk.ʃən/

deduction noun (TAKING AWAY)

C1 [ C or U ] the calculation of taking an amount or a part of something away from a total or the amount that is taken away:

The interest I receive on my savings account is paid after the deduction of tax.

[ C ] US and Australian English UK stoppage an amount that is taken away from the money you are paid before you officially receive it:

After deductions, his taxable income is $30,000.

(Definition of “deduction” from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"deduction" in American English

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deductionnoun [ C/U ]

us /dɪˈdʌk·ʃən/

the process of learning something by considering a general set of facts and thinking about how something specific relates to them:

[ C ] Sherlock Holmes was famous for making clever deductions.

an amount or part taken away from a total, esp. an expense that you do not have to pay taxes on, or the process of taking away an amount or part:

[ C ] New tax regulations would cut the deduction for business lunches.

(Definition of “deduction” from the Cambridge Academic Content Dictionary © Cambridge University Press)

"deduction" in Business English

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deductionnoun [ C or U ]

uk /dɪˈdʌkʃən/ us

the process of taking away an amount or a part of something from a total, or the amount that is taken:

The interest you receive will be paid after deduction of tax.
The tax and social security authorities normally insist upon deduction of payments and contributions at source.
Household insurance policies tend to replace lost or stolen items on a "new for old" basis, while travel policies tend to make deductions for wear and tear.

TAX the process of taking away particular costs from the amount of money that you have earned before you pay tax on it, or the costs that are taken away:

The married couple's allowance was in the form of a tax deduction.

(Definition of “deduction” from the Cambridge Business English Dictionary © Cambridge University Press)