Kiransbaddi, it would help if you told us whether you are trying to read the data bits so you can see how they are encoded or whether you are trying to use the PIC capture mode to measure how long each bit lasts for.
I think there is confusion because of the wording of your question, 'input capture' has a specific meaning on PIC devices because they have the ability to measure how long a signal is present at their input pins using a timer. If you are trying to read the sequence of 1 and 0 bits in an IR command, a software shift register is what you need.
Brian.