Glossary > Accounting > deduction
deduction
noun

the removing of money from a total, or the amount of money removed from a total

Examples

  • Net salary is salary after deduction of tax and social security.

  • The deduction from her wages represented the cost of repairing the damage she had caused to the machinery.

Usage
deductions from salary
money which a company removes from salaries to give to the government as tax, National Insurance contributions, etc.
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