Explanation:

Money bills include  Imposition, repealing or change of any tax, Custody of the Consolidated Fund of India, Rule of imposition, and regulation of tax by any local authority. All statements are true.

On this basis, a bill is a money bill if: It results in imposition, abolition, remission, alteration, or regulation of any tax at the union or state level but NOT at the local level. Thus, money bills exist in Parliament and State legislature only.

If a financial bill results in imposition, abolition, remission, alteration, or regulation at the local level by a local body, it is not considered to be a money bill. It results in the regulation of borrowing money or results in any guarantee by the Government of India. Results in withdrawal of money from Consolidated or Contingency fund Receipt of money in the consolidated fund and public account.