Hi

I am here in US on H1 status now my parents has arrived from India and they are having their Green Card with them and living with me and they don't work. Can I claim them as dependent in my W4 form for my next year Tax Return?

Thanks in Advance.

Yes, you can claim your parents are dependents if they have green cards. It is not necessary that they live with you.
Only requirement is that you provided more than half of their support and their income is less than the exemption amount ($3400 for 2007).
Read about qualifying relative in
Your U.S. Tax Return: Requirements for claiming a dependent

Thanks for your immediate reply

Glad to help!