Explanation:

Statement 1: The term is used in Article 102 (1)(A) of the Indian Constitution which bars a member of the Indian Parliament from holding an office that would give its occupant the opportunity to gain a financial advantage or benefit.
However, it has not been defined in Constitution or Representation of the People Act, 1951. But different courts have interpreted it and the Election Commission usually recommends whether an office is deemed to be an office of Profit or not.
Statement 2: It refers to a post under central/state government which yields salaries, perks and other benefits. The actual amount of profit gained during the violation has no bearing on its classification. It can be either under the Central or State government.
Statement 3: India had the Parliament (Prevention of Disqualification) Act, 1950, 1951, and 1953 exempting certain posts from being recorded as offices of profit. All these Acts were replaced by the Parliament (Prevention of Disqualification) Act, 1959. By virtue of section 3 of the said Act, certain offices did not disqualify their holders from being members of Parliament. The law was again amended in 2006.