GENERAL KNOWLEDGE

Detailed explanation-1: -The Parliament determines legally the qualifications of the members of the Commission and their selection methods.

Detailed explanation-2: -The Finance Commission (FC) is a constitutional body, that determines the method and formula for distributing the tax proceeds between the Centre and states, and among the states as per the constitutional arrangement and present requirements. Hence, statement a is correct.

Detailed explanation-3: -The finance commission is a constitutional body appointed by the President of India every 5 years.

Detailed explanation-4: -Ans. The Finance Commission is constituted by the President under article 280 of the Constitution, mainly to give its recommendations on distribution of tax revenues between the Union and the States and amongst the States themselves.