Step 1: Evaluating Statement I:
Vardhaman Mahavira was born in Kundagrama (near Vaishali in modern Bihar) in the $6^{\text{th}}$ century BCE (traditiolly calculated as 599 BCE or c. 540 BCE), not in the $5^{\text{th}}$ century CE. Thus, Statement I is completely chronologically incorrect.
Step 2: Evaluating Statement II:
According to Jain canonical tradition, there are 24 cosmic teachers known as Tirthankaras. Vardhaman Mahavira was indeed the $24^{\text{th}}$ and fil Tirthankara of the present half-cycle. Thus, Statement II is correct.
Step 3: Evaluating Statement III:
Jains do not worship Hindu deities like Lord Shiva as Mahavira. Jainism is a non-theistic spiritual path focused on self-purification, where Tirthankaras are revered as human teachers who attained ultimate liberation (Moksha) and became Jis (conquerors). Thus, Statement III is incorrect.
Step 4: Evaluating Statement IV:
The supreme and most fundamental doctrine of Jainism is Ahimsa (absolute non-injury/non-violence to all living things, including animals, plants, insects, and microorganisms). Thus, Statement IV is correct.
Step 5: Deducing the Fil Option:
Since Statements II and IV are correct, the correct option is (D).