The Indian Independence Act was based upon Mountbatten plan of 3rd June 1947
andwas passed by British Parliament on 5th July 1947. It received royal assent
on 18th July 1947. The salient features of this act were:
1. The
partition of the country into India and Pakistan would come into effect from 15
August 1947.
2. The
British Government would transfer all powers to these two Dominions.
3. A
Boundary Commission would demarcate the boundaries of the provinces of the
Punjab and Bengal.
4. The
Act provided for the transfer of power to the Constituent Assemblies of the two
Dominions, which will have full authority to frame their respective
Constitutions.