How can iodine oxidise hydrogen peroxide?
Harsh Jain, It may be a correct reaction, but it is a very complicated one.

Let us see what happens when iodine is added to a large volume of an aqueous base in the absence of $\ce{H2O2}.$ It forms iodide and iodate ion. If iodine is in excess, triiodide ion is also formed.

The complication arises from adding hydrogen peroxide because it can act as an oxidizing agent as well as a reducing agent. Similarly, iodate ion and iodide ion can react with each other as well as $\ce{H2O2}.$ For example, iodine can react with $\ce{H2O2}$ and form iodide ions.
On the other hand, iodide ion can be oxidized by $\ce{H2O2}$ to free iodine.

I would suggest that you read a paper by Bray and Liebhafsky [1].
Here is the summary by the authors in their table:


  


References


Bray, W. C.; Liebhafsky, H. A. Reactions Involving Hydrogen Peroxide, Iodine and Iodate Ion. I. Introduction. J. Am. Chem. Soc. 1931, 53 (1), 38–44. DOI: 10.1021/ja01352a006.