Which of the following statements are incorrect with regard to the Finance Commission?
(A) The provision of Finance Commission has been mentioned in Article 280 of the Constitution.
(B) Finance Commission shall consist of Chairman and two members.
(C) Finance Commission submits its recommendations to the Parliament.
(D) The Parliament is authorized to determine the qualifications for appointment as member of the commission.
Choose the correct answer from the options given below:

Correct option is B

B and C are the incorrect statements about the Finance Commission.
Article 280 of the Constitution of India provides for a Finance Commission as a quasi-judicial body. It is constituted by the president of India every fifth year or at such earlier time as he considers necessary.
The Finance Commission consists of a chairman and four other members to be appointed by the president. They hold office for such period as specified by the president in his order. They are eligible for reappointment. The Constitution authorises the Parliament to determine the qualifications of members of the commission and the manner in which they should be selected. Finance Commission submits its recommendations to the President.