Concept:
Mughal painting developed under different Mughal emperors. Artists were patronized by royal courts and became associated with particular rulers.
Step 1: Match Mir Sayyad Ali.
Mir Sayyad Ali was associated with Humayun and early Mughal painting tradition.
So,
\[
A \rightarrow III
\]
Step 2: Match Bihzad.
Bihzad was admired in the Timurid-Persian painting tradition and is connected here with Babur.
So,
\[
B \rightarrow I
\]
Step 3: Match Daswant.
Daswant was an important artist of Akbar's court.
So,
\[
C \rightarrow II
\]
Step 4: Match Abdul Hasan.
Abdul Hasan was a famous painter of Jahangir's court.
So,
\[
D \rightarrow IV
\]
Therefore, the correct matching is:
\[
A-III,\ B-I,\ C-II,\ D-IV
\]
Hence, the correct answer is:
\[
\boxed{\text{(C)}}
\]