The present study aimed to gain a deeper understanding of happiness and meaning in life in the Indian context. Sample consisted of 80 young adults in the age range of 18-30 years. In-depth interviews were conducted with questions on happiness and meaning. Thematic analysis of the responses yielded broad themes related to happiness and meaning. New models of meaning in life, happiness, and well-being emerged – the new model of meaning in life is named SARRThAC which is an acronym for Savouring, Accomplishment, Relationships, Resilience, Transcendence, Activity, and Character strengths and virtues while the new model of happiness is named SARRThAC PLUS where SARRThaC represents sources of meaning while PLUS stands for Physiological needs, Safety needs and Leisure. Comparisons with existing models of well-being are presented. These new models of happiness, meaning in life, and well-being can provide a new direction for deeper understanding of these constructs.