Translation, version, paraphrase, metaphrase can all denote a restating in intelligible language of the meaning or sense of a passage or work or the passage or work that is the product of such a restatement.
Translation implies a turning from one language into another <English translations of the Bible> <a literal translation > <translation is an art that involves the re-creation of a work in another language, for readers with a different background —Malcolm Cowley >
Version (see also ACCOUNT 2 ) may be used in place of translation especially to imply a rendering that adheres rather to the spirit than to a literal translating of the original, but often it is used to denote one of the translations of a given work, and especially of the Bible.
Paraphrase may apply to a very free translation the purpose of which is to present the meaning rather than the phrasing of a passage or work. It may apply also to an imitation with enough changes to obscure its indebtedness to an original in another tongue.
Commonly, however, the term denotes a free, amplified, and often, interpretative rendering of the sense of a difficult passage in the same language.
Metaphrase is occasionally used by learned writers to denote a translation that is almost slavishly faithful to the original (what is often called a literal translation) to distinguish it from a paraphrase or free translation.