The tourists need only avoid defeat to retain the Border-Gavaskar trophy but would slip down to number three in the ICC world rankings behind India and current third-placed side South Africa should they lose.
India will retain their number one ranking whatever the result at the end of a season which has seen them host a record 13 Test matches against four different visiting teams.
Captain Virat Kohli has hinted that fit-again fast bowler Mohammed Shami, who recently claimed four wickets in a domestic one-day final, could be brought into the starting line-up in Dharamsala.
Kohli suffered a shoulder injury during the third Test in Ranchi and uncapped batsman Shreyas Iyer has been added to the squad as cover.
Meanwhile, Australia skipper Steve Smith believes the momentum is with his players, who have their eyes on a first series triumph in India for 13 years.
“I’m sure they’re hurting a little bit in their change room,” said Smith, after Australia’s batsmen battled through the final day in the third Test in Ranchi to earn a draw.
“If there’s anything with momentum in cricket it’s probably on our side at the minute. It’s 1-1 all and we have decider in Dharamsala which is really exciting.”
India squad: Virat Kohli (capt), Murali Vijay, Lokesh Rahul, Cheteshwar Pujara, Ajinkya Rahane, Wriddhiman Saha, Ravichandran Ashwin, Ravindra Jadeja, Ishant Sharma, Bhuvneshwar Kumar, Umesh Yadav, Karun Nair, Jayant Yadav, Kuldeep Yadav, Abhinav Mukund, Shreyas Iyer.
Australia squad: Steve Smith (capt), David Warner, Ashton Agar, Jackson Bird, Peter Handscomb, Josh Hazlewood, Usman Khawaja, Nathan Lyon, Shaun Marsh, Glenn Maxwell, Steve O’Keefe, Matthew Renshaw, Pat Cummins, Marcus Stoinis, Mitchell Swepson, Matthew Wade.