Explanation:

• According to the Constitution, the powers, privileges and immunities of Parliament and MPs are to be defined by Parliament. No law has so far been enacted in this respect. In the absence of any such law, it continues to be governed by conventions.
• The Constitution of India specifies some of the privileges. These are freedom of speech in Parliament; immunity to a member from any proceedings in any court in respect of anything said or any vote given by him in Parliament or any committee thereof; immunity to a person from proceedings in any court in respect of the publication by or under the authority of either House of Parliament of any report, paper, votes or proceedings.

Hence both statements are correct.