Very recent report 1 on observation of superconductivity in Bi 4 O 4 S 3 could potentially reignite the search for superconductivity in a broad range of layered sulfides. We report here synthesis of Bi 4 O 4 S 3 at 500 0 C by vacuum encapsulation technique and its basic characterizations. Bi 4 O 4 S 3 is contaminated by small amounts of Bi 2 S 3 and Bi impurities. The majority phase is tetragonal I4/mmm space group with lattice parameters a = 3.9697(2)Å, c = 41.3520(1)Å. Both AC and DC magnetization measurements confirmed that Bi 4 O 4 S 3 is a bulk superconductor with superconducting transition temperature (T c ) of 4.4K. Isothermal magnetization (MH) measurements indicated closed loops with clear signatures of flux pinning and irreversible behavior. The lower critical field (H c1 ) at 2K, of the new superconductor is found to be ~15 Oe. The magneto-transport R(T, H) measurements showed a resistive broadening and decrease in T c (ρ=0) to lower temperatures with increasing magnetic field. The extrapolated upper critical field H c2 (0) is ~ 31kOe with a corresponding Ginzburg-Landau coherence length of ~100Å . In the normal state the ρ ~ T 2 is not indicated. Hall resistivity data show non-linear magnetic field dependence. Our magnetization and electrical transport measurements substantiate the appearance of bulk superconductivity in as synthesized Bi 4 O 4 S 3 . On the other hand same temperature heat treated Bi is not superconducting, thus excluding possibility of impurity driven superconductivity in the newly discovered Bi 4 O 4 S 3 superconductor.