Definition of Exemption
Freedom from a general duty or service; immunity from a general burden, tax, or charge. Immunity from certain legal obligations, as jury duty, military service, or the payment of taxes.
A privilege allowed by law to a judgment debtor, by which he may hold property to a certain amount or certain classes of property, free from all liability to levy and sale on execution or attachment.
Property exempt in bankruptcy proceedings is provided for under Bankruptcy Act § 522.
Term used for various amounts subtracted from gross income to determine taxable income; e.g. personal tax exemptions for self and dependents. I.R.C. § 151 et seq.
See also Immunity.
That's the definition of Exemption in Black's Law Dictionary 6th Edition. Courtesy of Cekhukum.com.
