The correct answer is option B, Article 14 of the Indian Constitution guarantees equality before law and equal protection of law for all individuals residing within the territory of India.

**Explanation:**
Article 14 of the Indian Constitution is enshrined under Part III, which deals with Fundamental Rights. This article states that the State shall not deny any person equality before the law or equal protection of the laws within the territory of India.

Here is a detailed explanation of Article 14:

1. **Equality before the law:** The concept of equality before the law means that every person, regardless of their caste, religion, race, sex, or place of birth, should be treated equally in the eyes of the law. It ensures that there is no discrimination in the application of laws and the administration of justice.

2. **Equal protection of the laws:** Equal protection of the laws means that all individuals are entitled to the same protection and benefit of the laws. It ensures that the laws are applied uniformly and impartially to all citizens without any discrimination.

3. **Prohibition of discrimination:** Article 14 prohibits discrimination on various grounds such as religion, race, caste, sex, place of birth, or any other social, economic, or political factor. It guarantees that no person shall be subjected to any disability, liability, restriction, or condition on these grounds.

4. **Reasonable classification:** Article 14 allows the State to make reasonable classifications for the purpose of legislation, as long as the classification is based on intelligible differentia and has a rational nexus with the object sought to be achieved by the law. This means that the State can differentiate between individuals or groups based on reasonable grounds, but the classification should not be arbitrary or discriminatory.

In conclusion, Article 14 of the Indian Constitution ensures equality before the law and equal protection of law for all individuals residing within the territory of India. It prohibits discrimination and guarantees that every person is entitled to the same protection and benefit of the laws.

Article 14 of the Indian constitution states that:-The State shall not deny to any person equality before the law or the equal protection of the laws within the territory of India.