Bonds Budget 2019 wish list: FPIs pin hopes on tax exemptions, regulatory tweaks Updated : July 04, 2019 06:40 AM IST Last year’s budget took away the exemptions on long-term capital gains on equities, equity-oriented mutual fund and business trust units. The safe harbour rules introduced in 2015 in domestic tax laws to promote management of offshore funds from India contain onerous conditions. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.