The correct answer is option 1: the tenure of every Panchayat shall be for five years from the date of its first meeting.

Firstly, it is important to understand what a Panchayat is. In India, a Panchayat is a local self-government institution in rural areas. It is responsible for grassroots-level governance and administration.

According to the question, the tenure of a Panchayat is five years. This means that once a Panchayat is formed, it will continue to function for five years before new elections are held.

The answer states that the tenure is counted from the date of its first meeting. This means that the Panchayat`s term starts from the day it holds its inaugural meeting and continues for five years from that date.

The other options given in the question may seem plausible, but the correct option is the one that mentions the first meeting of the Panchayat as the starting point of its tenure.

Therefore, option 1 is the correct answer as it accurately describes the starting point of a Panchayat`s five-year tenure.