The correct option is 1 and 2 only. In the context of the Indian parliamentary system, the Rajya Sabha, as the Upper House, does not have the authority to reject or amend Money Bills, as outlined in Article 110 of the Constitution. This limitation ensures that the financial powers are primarily vested in the Lok Sabha, which represents the electorate directly. Additionally, the Rajya Sabha does not vote on the Demands for Grants, which are introduced in the Lok Sabha; however, it can discuss the Annual Financial Statement (Union Budget) but does so via a resolution without voting on it, distinguishing its role further in budgetary matters.