VINOD PALAV,
Thank you for visiting the OneCare program forums.
Please check out the following KB article on
You cannot print to a shared printer after you install Windows Live OneCare
http://support.microsoft.com/kb/943765/en-us
or
A computer in your OneCare circle does not recognize your printer
http://support.microsoft.com/kb/943785/en-us
I hope this helps,
Lori MS