.NET is a software development platform that allows developers to create web and windows applications using any compliant .NET language like C#, VB.NET, and C++. The .NET Framework includes a common language runtime (CLR) that compiles code to an intermediate language (IL) and handles execution, memory management, and security. It also includes libraries and APIs for tasks like web development, data access, and user interfaces. Visual Studio.NET is an integrated development environment (IDE) that supports building .NET applications.