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Statement 1 states that Annie Besant was the first woman President of the Indian National Congress. This is incorrect. The first woman President of the Indian National Congress was Sarojini Naidu, who presided over the Congress session in 1925. Therefore, statement 1 is not correct.
Statement 2 states that the Lucknow session of the Congress in 1916 was presided by Madan Mohan Malviya. This is correct. Madan Mohan Malviya, a prominent Indian independence activist, presided over the session in Lucknow in 1916. Therefore, statement 2 is correct.
Statement 3 states that Mahatma Gandhi presided over the annual session of Congress only once at Belgaum in 1924. This is also incorrect. Mahatma Gandhi never presided over the session at Belgaum in 1924. Therefore, statement 3 is not correct.
In conclusion, only statement 2 is correct. Alert - correct answer should be option 2: 2 and 3 only.