The World Wide Web is an information resource with virtually unlimited potential. However, this potential is relatively untapped because it is difficult for machines to process and integrate thisinformation meaningfully and today the WWW links more than 15 billion pages. The retrieval of relevant information on web is an issue that is of main concern. As the internet grew and became popular,more and more information is growing over the WWW has increased to such an extent that extracting relevant information became a major issue –anytime one searches on the web, it ends up in hundreds oflinks that provide information on a particular topic. Extracting useful information is left on user to decide. This paper emphasizes on where today’s search is lacking and need of an intelligent information retrieval system on web and to explore its theoretical framework. This paper also presents the technologies/concepts required to make semantic web a reality like metadata, RDF, URI, XML, XMLS, Triples and Ontologies.