Latest news with #PiyushAgarwal
New Indian Express
25-05-2025
- New Indian Express
Treading the green path: Delhi man's solo mission to beautify Madikeri
MADIKERI: Astroll on a quaint street near Government Junior College in Madikeri introduces one to a beautification project where flower pots hang on retaining walls of public spaces. In between the flower pots, dustbins are also placed for public use. This beautification project was not taken up by the City Municipal Council or any other government body; it is the effort of an individual from Delhi who moved into the city two years ago in search of clean air. Piyush Agarwal has grand plans to make Madikeri one of the quaintest cities to live in. Piyush, who started on a road trip across India in search of a place with clean and pure air to lead a retired life, says, 'Madikeri fit the bill the best for my retired life.' So, what made him undertake the journey from Delhi to Madikeri? 'I was in search of a place with a low Air Quality Index (AQI), which I wanted to make my home,' he says. The businessman and entrepreneur developed bouts of cough due to high air pollution in Delhi. 'I had difficulty breathing and developed cough bouts. COVID happened, and my business suffered a bit. That is when I decided that Delhi was not the place I wanted to live in, and it was time for me to get out,' he shares. Road trip across 27 states He set off on a road trip across India, travelling from East coast to West coast, the AQI meter as his travel buddy. He checked the air quality in every place he visited. Ooty, Chikkamagaluru, Goa, Kerala, Kanyakumari – Piyush travelled the length and breadth of India and covered 27 of 29 states; this was in 2022. 'I had a few parameters in mind. While air quality was the priority, the other parameters included the kind of people, a not-so-large city, greenery. And Madikeri fit the bill the best,' he explains. His travel experience also revealed that the majority of the country is polluted, as air quality level across several regions is above 50. 'Madikeri had an AQI level of 16, and became my ideal place to settle down for a retired life. Kodagu is among the best districts and nowhere in the country can you find such forests with abundant greenery. Even coffee cultivation is done using shade trees,' he opines.
Time of India
19-05-2025
- Business
- Time of India
Pune-based Agarwal can save Rs 10.5 lakh tax in new tax regime via corporate NPS, debt funds
Pune-based Piyush Agarwal works at a senior position in a software company. He is paying a high tax even though his salary structure is fairly taxfriendly. Nearly 35% of his income goes in tax because of the 25% surcharge on incomes above Rs.2 crore. If he invests in tax-efficient instruments and claims all the deductions available to him, he can significantly reduce his tax outgo. Agarwal has opted for the new tax regime because he finds it less complicated and it allows him to invest as per his convenience and preference. Though there are no deductions under Section 80C in the new tax regime, there is an opportunity to save tax through NPS . If he reduces his special allowance by Rs.10,51,226 (14% of basic salary) and opts for the corporate NPS benefit from his company under Section 80CCD(2), his tax can reduce by Rs.8,75,919. The NPS benefit does not add to wage cost or paperwork for the company, but it lowers the tax outgo for employees. The tax savings are high because the deduction reduces the surcharge payable on the tax. Agarwal has invested Rs.65 lakh in fixed deposits and earns an interest of Rs.4.5 lakh on this. If he switches to debt funds or arbitrage schemes, he can save Rs.1.75 lakh in tax. Arbitrage funds are treated as equity schemes for tax purposes and long-term capital gains of Rs.1.25 lakh are tax-free in a year. To avoid tax on fixed deposits, Agarwal should also open a PPF account and start putting Rs.1.5 lakh a year in it to build a tax-free corpus. Live Events Agarwal and his family are covered by a group health plan from his employer. Under the new tax regime, there is no deduction for health insurance premiums, but he should still buy an independent health plan for himself and his family. WRITE TO US FOR HELP Paying too much tax? Write to us at etwealth@ with 'Optimise my tax' as the subject. Our experts will tell you how to reduce your tax by rejigging your pay and investments.
