Net Zero: Net Zero is a state where we add no incremental greenhouse gases to the atmosphere. Thus the emissions output is balanced with removal of carbon from the atmosphere via carbon sinks (e.g forests, mangroves, carbon capture, etc). Essentially, what goes in, must be removed to equal Net Zero.
Carbon neutrality is the process of offsetting emissions to neutral on a specific parameter. It is achieved through purchasing carbon credits from offsetting projects that reduce or avoid carbon emissions.
Obtaining Net Zero requires large reduction in your emissions (in line with science) and any carbon credits used should be from verified projects that sequester carbon from the atmosphere.