deduction

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deduction

 [de-duk´shun]
reasoning in which the conclusion follows necessarily from the premises; reasoning from the general to the particular.

de·duc·tion

(dē-dŭk'shŭn),
The logical derivation of a conclusion from certain premises. The conclusion will be true if the premises are true and the deductive argument is valid. Compare: induction (9).

de·duc·tion

(dĕ-dŭk'shŭn)
The logical derivation of a conclusion based on certain premises. The conclusion will be true if the premises are true and the deductive argument is valid.
Compare: induction (9)
References in periodicals archive ?
Before suspension, on each calling card of Rs100, withholding tax (income tax) of 12.5pc was deducted under Section 236 of the Income Tax Ordinance, 2001, by the Federal Board of Revenue, whereas 17pc excise duty was charged from users in Islamabad Capital Territory.
All 1,400 workers from Sheng Yao Enterprise Co Ltd, who staged a protest in Svay Rieng province returned to work on Friday after the employer assured them that their wages will not be deducted for taking leave to vote in the recently concluded national elections.
2) Fees on a taxable account may not be deducted from an IRA.
Perhaps, if there were an incentive, such as being able to deduct the value of your time or services from your taxes and a means to protect the professional from malpractice claims, more professionals would donate their services to the poor.
Typically, prepaid medical expenses are not deductible in the year of payment; generally, they cannot be deducted until services have been rendered.
The Ostrows, who were subject to AMT, deducted real estate taxes paid by the coop on their joint return; the IRS disallowed the deduction.
The publication also explains that "You can deduct only the amount of your medical and dental expenses that are more than 7.5 percent of your adjusted gross income.
Although the landlord is entitled to deduct these payments, the law is unclear on whether the payments can be deducted either when they come due or ratably over the term of the new lease.
Otherwise, they would strain to capitalize all sorts of expenses that historically have been currently deducted. One of the reasons that TEI filed an amicus brief in INDOPCO back in 1991 was to express concern over the possible breadth of the Third Circuit's decision in the case: "If the Third Circuit's definition of a capital expenditure as any expenditure yielding income substantially beyond the taxable year gains currency," the Institute wrote, "then the manifest deductibility of untold ordinary and necessary expenses will be jeopardized.
Most woodland owners will obviously find it to their advantage to currently deduct forest-management and related costs to the extent possible, rather than postponing or losing them altogether, as would be the case under the second and third classifications (see March/April 1987 and January/February 1988).
1372 will be treated as a self-employed person and may deduct the premiums paid by the S corporation as an above-the-line deduction (if all the other Sec.
Accrual method taxpayers may be allowed to deduct employment taxes on vacation/bonus pay accrued at year-end but not paid until the subsequent year.