6 Fe(SO4) + 2 KMnO4 + 8 H2SO4 → 3 Fe2(SO4)3 + K2SO4 + 2 Mn(SO4)2 + 8 H2O
This is an oxidation-reduction (redox) reaction:
2 MnVII + 6 e- → 2 MnIV (reduction)
6 FeII - 6 e- → 6 FeIII (oxidation)
KMnO4 is an oxidizing agent, Fe(SO4) is a reducing agent.