Do I have to pay taxes on my gains from the fisdom account?

Tax implications, if any, only happen on withdrawal. Till you actually withdraw any money, there is no tax.

On withdrawal, the current tax rules are:

• Investments in equity funds:
  • If you buy and sell within one year, then the gains, if any, are taxed at 15%
  • If you sell after one year, then there is no tax
• Investments in debt funds:
  • If you buy and sell within 3 years, then then your gains are taxed at your applicable tax rate
  • If you sell after 3 years, then the gains are taxed at 20% with indexation benefit