Yes. For tax purposes, mutual funds are segregated into equity-oriented and debt-oriented. If the investment made in equity-oriented Mutual Funds is for less than 12 months, you have to pay 15% tax on returns. For any duration exceeding that, you will have to pay 10% on gains exceeding ₹1 lakh. Furthermore, if a fund's exposure to stocks is less than 65%, capital gains will be as per your tax slab if the holding period is less than 36 months. If the holding period exceeds 3 years, capital gains are taxed at 20% after the indexation benefit.