exemption Meaning and Definition
1. n. an act exempting someone
2. n. a deduction allowed to a taxpayer because of his status (having certain dependents or being blind or being over 65 etc.)
3. n. immunity from an obligation or duty
An exemption such as a tax exemption allows a certain amount of income or other value to be legally excluded to avoid or reduce taxation.
Synonyms absolution discharge dispensation exception exoneration immunity impunity privilege release
Antonyms liability
Sponored Video