Lets start with intro

Visual Basic .NET (VB.NET)
                                                                                is an object-oriented computer programming language that can be viewed as an evolution of the classic Visual Basic (VB), which is implemented on the .NET Framework. Microsoft currently supplies two major implementations of Visual Basic: Microsoft Visual Studio 2010, which is commercial software and Visual Basic Express Edition 2010, which is free of charge.
Software and Hardware Requirements

Software Requirements

Visual Studio 2010 can be installed on the following operating systems:

• Windows XP (x86) with Service Pack 3 - all editions except Starter Edition
• Windows Vista (x86 & x64) with Service Pack 2 - all editions except Starter Edition
• Windows 7 (x86 & x64)
• Windows Server 2003 (x86 & x64) with Service Pack 2
• Windows Server 2003 R2 (x86 & x64)
• Windows Server 2008 (x86 & x64) with Service Pack 2
• Windows Server 2008 R2 (x64)
  Supported Architectures: 
• 32-Bit (x86)
• 64-Bit (x64)
  
  Hardware Requirements 
• Computer that has a 1.6GHz or faster processor
• 1 GB (32 Bit) or 2 GB (64 Bit) RAM (Add 512 MB if running in a virtual machine)
• 3GB of available hard disk space
• DirectX 9 capable video card running at 1024 x 768 or higher-resolution display
• DVD-ROM Drive

Versions
There are 5 versions of Visual Basic .NET implemented by the Visual Basic Team.

1. Visual Basic .NET (2002) (VB 7.0)
2. Visual Basic .NET 2003 (VB 7.1)
3. Visual Basic 2005 (VB 8.0)
4. Visual Basic 2008 (VB 9.0)
5. Visual Basic 2010 (VB 10.0)