Mutual Fund and tax implications

Dear Sir/Madam,

Soon I will start investing in Mutual Fund. I have read online but I have a query when it comes to tax implications.

In case of Mutual Fund is the tax implication applicable every financial year (like Fixed deposits) (assuming fund grows over period) or only at the time of withdrawal of fund from the MF.

Say I invest 1 Lac for 5 years and at the end of 5 years I get return of 70000. So after 5 years I withdraw all 1.7L.

Thanks