Making out the correct expression of probability.

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Here is the image of the question: probability

It is written that we need to take probability of occurrence of at least one of A and B. Shouldn't it mean an occurrence that belongs to both A and B and is occurs at least one?? I am all confused by the statement of the question.

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I am actually confused as to what your precise confusion is :p ...particularly this question:

"Shouldn't it mean an occurrence that belongs to both A and B and is occurs at least one??"

If it helps visualize things...

enter image description here

As far as what the blue text in your image is saying, note that the probability that $A$ or $B$ occurs is one minus the probability that neither occurs:

$$P(A\cup B)=1-P((A\cup B)')=1-P(A'\cap B').$$

If $A,B$ are independent, then $A',B'$ are also independent (why?), and thus

$$P(A'\cap B')=P(A')P(B').$$