The correct answer is option 'B' - Only 2.

Explanation:
The Constitution of India is the supreme law of the country and provides the framework for the governance of India. It consists of several basic features that define the structure and functioning of the Indian government. Let's examine each option to determine which ones are basic features of the Indian Constitution:

(i) Fundamental Rights: Fundamental Rights are a set of basic human rights guaranteed to every citizen of India. These rights provide individuals with certain freedoms and protections, such as the right to equality, freedom of speech and expression, right to life and personal liberty, and the right to practice any religion. These fundamental rights are enforceable by the courts and are considered essential for the protection of individual liberties. Therefore, option (i) is a basic feature of the Constitution of India.

(ii) Parliamentary form of government: The Constitution of India establishes a parliamentary form of government. It provides for a system where the President is the head of state and the Prime Minister is the head of government. The Parliament consists of two houses - the Lok Sabha (House of the People) and the Rajya Sabha (Council of States). The Prime Minister is the leader of the majority party or coalition in the Lok Sabha and is responsible for the day-to-day administration of the country. The Parliament is responsible for making laws, and the government is accountable to the Parliament. Therefore, option (ii) is a basic feature of the Constitution of India.

(iii) Distribution of taxation power between the Union and the states: The distribution of taxation power is not a basic feature of the Constitution of India. While the Constitution does provide for the division of powers between the Union (central government) and the states, including the power to levy taxes, it is not considered a fundamental or basic feature of the Constitution.

(iv) Three-tier governance: The three-tier governance system, which refers to the division of powers and functions between the Union, the states, and the local governments, is not a basic feature of the Constitution of India. While the Constitution does provide for a federal system with powers divided between the Union and the states, the three-tier governance system is not explicitly mentioned as a basic feature.

In conclusion, only options (i) Fundamental Rights and (ii) Parliamentary form of government are basic features of the Constitution of India. Therefore, the correct answer is option 'B' - Only 2.