How do I remove the information section available below the comment box? As shown in the image, below the comment text-area there is an information section I do not want to show. How do I remove the part highlighted in red?

 

I want the comments to appears as they do on StackExchange, where user just have a text-area for entering their comments.
Simplify module is what you are looking for. Besides hiding the text format selection, it has a few more settings to hide, which really "simplifies" the user interface.


  Simplify allows particular fields to be hidden from the user interface. This helps to de-clutter forms and present a more user-friendly experience to content editors.