The Indian Independence Act was formulated by the British PM, Governor General of India, Representatives of Indian National Congress.
According to Indian Independence Act, British India partitioned into the two new independent dominions of India and Pakistan. The act received the royal assent on 18 July 1947.
The Indian Independence Act declared 15 August 1947 as the date of partition and independent of the India into two dominions.
India celebrated Independence day on 15th August 1947, but due to Mountbatten’s need to be in New Delhi for the transfer of power, Pakistan celebrated its formation a day before on 14 August 1947 to enable viceroy Lord Mountbatten to attend both events.
This Act also made provision for the division of joint property, etc. between the two new countries, including in particular the divisions of the armed forces.