My H1-B valid till 03-March-2016. I came back to india on 27-Aug-15. If I will not be able to travel again to US before that, will my visa expire for life time?
You are cap-exempted for 6 years from 27-Aug-15. Same or different employer can file a cap-exempt H-1 petition for you during that period. After that, you have to go through the cap again.
Thanks for your reply sir. You mean to say after 03-Mar-16 which is my petition’s expiry date, I have to go for cap-exempt?
Can you elaborate what is H1 cap exempt? How long it takes?
First thing first - don’t call me Sir 
Once a person has an approved H-1 petition, they don’t need to go through cap/lottery again. This advantage is allowed for only certain duration - up to 6 years since the person last held H-1 status.
You held H-1 status until 27-Aug-15 as you left US on that date and your H-1 status ceased to exist (status exists only when you are inside US). So any employer can file a cap-exempt petition for you within 6 years from that date. Once approved, you can travel to US to work for that employer. You don’t need to wait until April to file petition (like you would have for your very first petition).
Makes sense?
Thanks a ton my friend. I was scared that right now I m in India if in case I will not be able to travel back to US Before 3-Mar-16 I will loose my H1B.
If my employer file my cap-exempt after 3-Mar-2016 how long it will take to get approved?
Typical processing time is 2-4 months but actual time will depend upon the work load at the processing center at that time. And there is always an option to file w/ premium processing.
Thank you so much my friend