On redeeming any Mutual Fund, you are eligible to pay taxes based on your holding period in that Mutual Fund.
In the case of Equity and Hybrid Equity-Oriented Funds, any MF held for less than 12 months will attract STCG and any MF held for more than 12 months will attract LTCG.
STCG on the redemption of equity-oriented Mutual Funds is taxed at a flat rate of 15%.
LTCG on the redemption of equity-oriented Mutual Funds is taxed at a flat rate of 10% for gains exceeding Rs 1 lakh in a financial year without indexation benefit. Gains up to Rs 1 lakh are exempt from tax.
In the case of Debt & Hybrid Debt-Oriented Funds, all gains (irrespective of short-term or long-term) will be added to your taxable income and taxed at the slab rate.