Does Android Jelly Bean supports NTFS SD card formatting? If I format my micro SD card as NTFS, will my phone see it? I need this because I want to transfer files larger than 4GB on my phone microSD card, but FAT32 allows just files up to 4GB.
Honestly speaking, It depends on the manufacturer. As far as I am aware, the company has to get some license from Microsoft to include NTFS support. Speaking from experience, most (high-end) Samsung and HTC phones do while custom roms typically do not.

The only sure-shot method to confirm is by trying it out with an extra sd card...