The correct sequence in descending order of precedence according to the warrant of precedence is Option 2: Judges of the Supreme Court-Deputy Chairman of Rajya Sabha-Attorney General of India-Members of Parliament.

Let`s dissect all the options:

1. In Option 1, the Attorney General of India is placed first which is incorrect as per the warrant of precedence. The Attorney General of India stands after the Judges of the Supreme Court and Deputy Chairman of Rajya Sabha.

2. In Option 2, the Judges of the Supreme Court are placed first, followed by Deputy Chairman of Rajya Sabha, Attorney General of India, and Members of Parliament. This order matches the warrant of precedence.

3. In Option 3, once again the Attorney General of India is wrongly placed before the Judges of the Supreme Court.

4. In Option 4, even though the Judges of the Supreme Court are correctly placed first, the Deputy Chairman of Rajya Sabha is wrongly placed after the Attorney General of India.

So, based on these explanations, option 2 is the correct sequence in descending order of precedence.