Type of income is a broad term that can refer to any form of money earned, such as wages, salaries, tips, commissions, bonuses, dividends, pensions, rents, royalties, and other forms of revenue. NET income is the amount of money left after all deductions have been made from gross income. It is the final amount of money that an individual or business has earned after taxes and other expenses have been taken out. NET income is also known as NET profit or NET earnings.