Glenn Maxwell smashed an unbeaten 104 as Australia pulled off a stunning chase of 223 in the third Twenty20 international against India on Tuesday to stay alive in the series with a five-wicket win.

The swashbuckling batsman struck his 100 in 47 balls and completed the win with a six and three fours on the final four balls off the 20th over in Guwahati.

It was Maxwell's fourth T20 century as he joined Rohit Sharma with most tons in the format and the knock eclipsed a 123 by Ruturaj Gaikwad in India's 222-3.

Australia, who won the ODI World Cup after beating hosts India in the final earlier this month, still trail the five-match series 2-1 with the fourth T20 on Friday in Raipur.

Opener Travis Head, who made the team after his match-winning century in the ODI World Cup final, attacked along with fellow opener Aaron Hardie.

The left-handed Head smashed 35 off 18 balls but fell to fast bowler Avesh Khan and soon Australia lost three wickets before the Maxwell blitz.

Maxwell struck eight fours and eight sixes and put on an unbeaten 91-run stand with skipper Matthew Wade, who hit 28.

Earlier India rode on Gaikwad's maiden international century and his 141-run unbeaten stand with Tilak Varma to post a mammoth total, which proved insufficient.

Australia elected to bowl first and got two early wickets but Gaikwad, who hit 58 in the team's second win, took apart the opposition bowling to raise his 100 off 52 balls.

He finished with 13 fours and seven sixes in his 57-ball blitz with Varma, who hit 31 off 24 balls, playing anchor at the other end. (AFP)