Question: I am using ubuntu for development. And I want to test my application on IE. So, instead of remote desktop I want to access IE as remote application from other windows machine. So the other guy whose working on windows machine can continue with his work and I can also test my application.

Are there any ways to access IE as remote application between windows and ubuntu ?

Answer: 
To run multiple sessions as you describe, the Windows machine would need to be running Windows Server. The terminal service for the desktop editions are limited to one active session at once so they don't devalue the server.

If you have a spare Windows license lying around, you could always install it in VirtualBox and enable seamless mode. You would access IE as a virtual application with the start panel as a "bonus".
![enter image description here](https://i.stack.imgur.com/vmWga.png)([Image source](http://blog.slyon.de/2007/09/07/virtualbox-seamless-mode-2/))
There is something called TeamViewer (<http://www.teamviewer.com/en/index.aspx>) which can be installed on each system and is cross-platform. You might be able to use this for your needs.