The question asks to identify the statement that is incorrect regarding Swami Dayanand Saraswati.

Swami Dayanand Saraswati's Key Beliefs

Swami Dayanand Saraswati was a prominent social reformer and the founder of the Arya Samaj. His teachings emphasized a return to the original principles of the Vedas.

Evaluating the Statements

• Statement 1: Founded Arya Samaj in 1875
  This statement is correct. Swami Dayanand Saraswati established the Arya Samaj in Bombay (Mumbai) on April 10, 1875.
• Statement 2: Believed that selfish and ignorant priest had perverted Hindu religion
  This statement is correct. Swami Dayanand was critical of practices and interpretations by priests that he believed had corrupted the true essence of Hinduism derived from the Vedas.
• Statement 3: Met and discussed with Keshab Chandra Sen; gave slogan 'Back to Vedas'
  This statement is correct. Swami Dayanand did interact with Keshab Chandra Sen, a leader of the Brahmo Samaj. The slogan 'Back to Vedas' (Vedon mein jao) encapsulates his core message advocating for adherence to Vedic teachings.
• Statement 4: His complete dependance on the Vedas gave his teachings a rational & logical colouring
  This statement is incorrect. While Swami Dayanand Saraswati placed immense importance on the Vedas as the ultimate source of knowledge and authority, the assertion of "complete dependence" leading *solely* to a "rational & logical colouring" is debatable and considered inaccurate in this context. His interpretations aimed for rationality, but the interpretation of ancient scriptures involves nuances beyond strict modern logical deduction, and the term "complete dependence" might oversimplify his intellectual framework. Therefore, this statement misrepresents the nature or outcome of his reliance on the Vedas.

Based on the analysis, Statement 4 is the incorrect assertion about Swami Dayanand Saraswati.