Differentiate between net and gross in about 2-3 points!!

Solution:
 
S.no Net Gross
1.  Net value of any item is the amount that is calculated after taking some adjustments. For example Net Exports = Exports - Imports Gross value of any item is the amount of the item without any adjustments taken into account. If 'Net' is not mentioned in the item, then it shows their gross amount. For example, Exports, Imports etc
2.  Net concept is taken into account while calculating national income. Gross concept is considered while calculating GDP.

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Gross income is the amount of salary or wages paid to the individual by an employer before any deductions are taken.
Net income is the residual amount of earnings after all deductions have been taken from gross pay, such as payroll taxes and retirement plan contributions.
For example, if a person earns wages of 50 thousand every month and 3 thousand in deductions are taken from his paycheck.
Then the gross income is 50 thousand and net income is 47 thousand.
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