". . . whereas there are 3 partitions already set up . . . and Ubuntu can only hv 4 partitions due to which I am unable to make what I need!!!"
Last I checked 3 was less than 4. Make an extended partition and put anything you want in logical partitions inside it.
Ubuntu does not limit the number of partitions, that is the nature of your hardware. Anyway it is only a limitation on the number of "primary" partitions, not of total partitions.
From Windows, shrink your windows partitions as much as practical. If you need to shrink them more than they will shrink easily, there are ways to to defeat the stuff MS does to make it difficult, and shrink them further, but that is another subject. At any rate shrink them ENOUGH. For whatever you want to install.
Then boot an Ubuntu live disk and use the program "gparted". Make an extended partition of all available space (if you didn't shrink Windows efficiently you may waste some hd space, but you can fix that when it becomes pressing). Then make "logical partions" as you wish for what you plan to install. Or you can put that last step off and do it as you install each OS if you plan on more than 3.
