Explanation:

All the statements are incorrect.
1st statement is incorrect because the Panchayati raj is based on the principle of decentralisation.
2nd statement is incorrect. The sources of income of the village Panchayat (gram Panchayat) may be divided into some broad headings. Each Gram Panchayat has its own fund. Money comes from different sources and is deposited in this fund.
The taxes imposed by the Village Panchayats are important source of income of Gram Panchayats, such as:
a) taxes on land and houses,
b) the custom duty,
c) the toll tax,
d) license fees on transport and communication etc.
3rd statement is incorrect because Panchayats under local government are provided in state list of Constitution of India.