That might work for sony sircs lg as is uses pulse position modulation, not sure if it'd be any good for phillip's protocol though.
True. Seeing the actual signal is very important.
I have suggested many times that Ritesh should buy the PicKit3, because he has many PIC projects, but he does not have proper instruments to debug the projects.
PicKit3 has a logic analyzer that is a big help with projects like this. Two channel logic analyzer goes a long way in hobby projects. It is good enough to debug almost any communication interface you may have in a microcontroller based hobby project..