To subtract or deduct an amount; to take away (e.g., taxes, fees) so as to get the remainder.
給料から税金と保険料を差し引いた後、手取りが表示される。
Your take-home pay is shown after taxes and insurance premiums are deducted from your salary.
請求書の合計から割引額を差し引いて支払った。
I paid after subtracting the discount from the invoice total.
売上から原価を差し引くと利益が出るかどうか分かる。
If you subtract the cost from sales, you can see whether there is a profit.
To make allowances for something when judging or calculating; to take into account and adjust accordingly.
彼の経験の浅さを差し引いても、この人材は有望だ。
Even taking into account his lack of experience, this person is promising.
遅刻を差し引いて考えると、彼の仕事ぶりは信頼できる。
If you make allowance for his lateness, his work is reliable.
To flow in and out; to ebb and flow (intransitive). A somewhat archaic/limited usage.
浜辺で潮が差し引くのをしばらく眺めていた。
I watched the tide ebb and flow at the beach for a while.