Under the Wildlife (Protection) Act, 1972, porcupines are protected. It means that hunting, killing, or capturing porcupines without proper permission is illegal. Porcupines are considered a part of the wildlife and are protected to ensure their conservation and prevent their population from declining.

Option 2, gerbils, option 3, bandicoot rats, and option 4, squirrels, are not specifically mentioned in the answer. Therefore, it can be inferred that they are not protected under the Wildlife (Protection) Act, 1972. However, it is important to note that there may be other laws or regulations that protect these species, depending on the country or region.