While the Vice President discharges the functions of the office of the President ........

Indian Polity (Easy) Union - Executive, Legisture

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While the Vice-President discharges the functions of the office of the President:

He ceases to act in his capacity as the Chairman of Rajya Sabha

He ceases to act in his capacity as the Vice-President of India

He continues to act as the Vice-President of India and Chairman of the Rajya Sabha

He ceases to act as Vice-President but continues to act as Chairman of the Rajya Sabha

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Explanation:

The Vice-President acts as president when a vacancy occurs in the office of President due to his resignation, death, removal or otherwise. (Article 65). While acting or discharging the functions of President, the Vice - President does not perform the duties of chairman of Rajya Sabha. Deputy Chairman of Rajya Sabha perform those duties in this period which means he ceases to act in his capacity as the Chairman of Rajya Sabha. Hence option 1st is correct.