exemption in WordNet English dictionary

1. an act exempting someone
   "he was granted immunity from prosecution"
   exemption  immunity  granting immunity 
   
2. a deduction allowed to a taxpayer because of his status (having certain dependents or being blind or being over 65 etc.)
   "additional exemptions are allowed for each dependent"
   exemption 
   
3. immunity from an obligation or duty
   exemption  freedom