How is capital gain taxed in debt funds?

If I invest lump sum amount in a liquid fund/short term debt fund and withdraw the money in three to six months, what would be the tax on short term capital gain and how do I pay it? Or it will be deducted during redemption? Also, if I invest in long term debt fund for more than three years, what would be the tax on long term capital gain? Also, what would be the taxable amount if I withdraw it before three years?
--Subhro Dey

Capital gains on redemption in liquid funds in three to six months will be added to your income and taxed as per the applicable income tax slab. You need to show it as income while filing ITR. It will not be taxed automatically. It is the responsibility of the investor to pay tax on capital gains.

Current taxation on non-equity investments is given below:

This article was originally published on September 11, 2015.