Mutual fund investment

There are lots of differences in opinion on deduction u/s 80 C through Investment in MUTUAL FUND with respect to Debt and Equity Fund.

As I understand All mutual fund are eligible for deduction u/s 80C. Further when it comes to aspect of transfer or sale of MF then it is considered whether it is debt fund or equity fund as LTCG on equity oriented mutual fund is exempt and rest are taxable.

Please suggest whether my view is correct?