The correct option is "Neither I nor II" because both statements contain inaccuracies regarding the Indian Constitution. Statement I misrepresents the constitutional authority in matters of disqualification under the 10th Schedule; it's the Speaker of the Lok Sabha, not the President, who has the final authority to determine such disqualifications. Statement II is misleading as well; while the term "political party" is not explicitly mentioned in the Constitution, it is implicitly recognized and given a framework under various provisions, especially pertaining to electoral processes and party registration. Therefore, both statements do not accurately reflect the constitutional framework of India.