Peter Handscomb hit his maiden one-day ton before Ashton Turner hammered Australia to a record-breaking four-wicket win over India, levelling the series at 2-2 with a game to play.

Shikhar Dhawan hit a career-best 143 and Rohit Sharma made 95 as India posted 358-9, the second-highest score posted in Mohali at the halfway stage of the contest.

Yet Australia impressively overhauled their opponents' total with 13 balls to spare, Handscomb setting up the chase with 117 as he and Usman Khawaja (91) shared a stand worth 192 after coming together at 12-2.

Still, the tourists required a stunning late onslaught from Turner, who cleared the ropes six times as he capitalised on three reprieves to help his team complete their highest ever run chase in the 50-over format.

The all-rounder hit an unbeaten 84 from just 43 deliveries to set up a series-deciding showdown in the fifth and final ODI, which takes place in Delhi on Wednesday.

Pat Cummins had earlier claimed his first five-wicket haul in the format, yet India still managed to post a sizeable score after opting to bat first.

Dhawan had scored just 22 runs in the first three games but returned to form with his 16th one-day ton, the left-hander putting on 193 with opening partner Rohit, who looked set to reach three figures himself until holing out to deep midwicket.

After centuries in his last two knocks, Virat Kohli made just seven as wickets tumbled in the closing overs, Cummins taking four of them in his final two overs to finish with figures of 5-70.

Australia's task in reply suffered a disastrous start when they lost skipper Aaron Finch - cleaned up by Bhuvneshwar Kumar for a two-ball duck - and Shaun Marsh (6) early.

Khawaja and Handscomb combined superbly to put the pressure back on their opponents, though the former missed out on a second successive hundred when a running Kuldeep Yadav held on to a top edge. 

Glenn Maxwell made a breezy 23 but the wicket of Handscomb, whose attempt to hit Yuzvendra Chahal over the rope presented a simple catch to long off, appeared to put India in control of the contest. 

Turner, however, had other ideas. Making the most of a missed stumping by Pant - as well as two drops in the outfield - he hit a barrage of boundaries, flipping what at one stage seemed a taxing equation into a formality.