Which government body handles taxation and financial legislation in India?

The Ministry of Finance is the primary government body responsible for taxation and financial legislation in India. It oversees the formulation and administration of the government's financial and economic policies, including taxation frameworks and laws. The Ministry plays a crucial role in preparing the Union Budget, which outlines the government’s revenue and expenditure plans, and it is also involved in implementing tax policies such as Income Tax, Goods and Services Tax (GST), and other financial regulations.

In contrast, the Ministry of Home Affairs focuses on internal security, law and order, and matters relating to immigration, while the Ministry of External Affairs handles India's foreign relations and diplomacy. The Ministry of Corporate Affairs deals with the regulation of corporate sector activities, corporate governance, and the registration of companies but does not directly handle taxation policies on a broader scale. Therefore, the Ministry of Finance is distinctly responsible for managing taxation and financial legislation, making it the correct answer.