The correct answer is Option 4. Explanation & Key Takeaways: The Indian Independence Act, 1947: • It was based upon the Mountbatten Plan of 3rd June 1947 and was passed by the British parliament on July 5, 1947. • It received royal assent on July 18, 1947. • It declared India as an independent and sovereign state. • It provided for the partition of India and the creation of two new dominions- India and Pakistan • It abolished the position of secretary of state for India. • It abolished the office of the viceroy and provided for each dominion, a governor-general, who was to be appointed by the British King on the advice of the dominion cabinet. • It empowered the constituent assemblies of the two dominions to frame and adopt any constitution for their respective nations and to repeal any act of the British parliament, including the independence act itself. • The constituent assemblies were empowered to legislate for their respective dominions till the new constitutions were drafted and enforced. • It granted the princely states the freedom to join either of the dominions or to remain independent. Governance of each dominion was to be conducted based on the provisions of the GoI act, 1935 • British monarch could no longer ask for bills or veto them. However, this was reserved for Governor-General. • The Constitutional Assemblies of the two nations would enjoy their respective legislative authorities. • The British emperor would no longer be called the Emperor of India. • The Indian Independence Act, of 1947 was repealed by the Constitution of India.