The word "remit" can have several meanings depending on the context in which it is used. One common meaning is to send money, often as payment for services or debts. Additionally, "remit" can refer to the act of canceling or refraining from exacting a debt or punishment. In a broader sense, it can also mean to refer a matter to someone for consideration or to delegate authority for action.
The word "remit" originates from the Latin word "remittere," which means "to send back." It is formed from the prefix "re-" meaning "back" and "mittere," meaning "to send."