Today morning, we (Akash-Gaurav-Verma-Bhaia) were discussing about how someone's tax liability is calculated when IT dept raids somewhere. For uninitiated, let me tell you that Guarav is astt. commissioner of Income Tax (direct taxes) and currently he is under training. He was sharing with us the real life experiences, his seniors discussed with him while training. So he told us that it depends for person to person, for example books are assets for a sportsman but they are a tool for an engineer or technician. So these things have a lot of consideration while calculating someone's net worth for calculating his/her tax liability. We discussed different aspects of it over a cup of morning tea.

After we were done with our breakfast, his girl friend called him and asked him to meet at a certain point in five minutes. Since we were not ready and Gaurav doesn't know the routes in Noida, we were ordered to get ready in 2 mins and take him there. Finally, we were able to drop them at a restaurant and came back. After sometime, he called again and asked us to pick him from there. So once again, we were all set to go out of our comfort zone (our house in this scorching heat of Delhi) and once again were following orders. But meanwhile this exercise, we came to know that who is an asset and who is a tool.

So for a man, his girl friend is an asset and his friends are tools. Now, how will you calculate the net value Mr. Astt Commissioner?