I am using QTP 9.2 and QC 8.2... But I am getting the following error whenever I am trying to create new Business component or scripted component or application area...
<font color="red">Error: The Quality Center Version is not compatible with the QTP version For more information about the BPT-compatible versions, refer to the Mercury Customer Support web site and locate the integration Availability alert</font>
The error message is pretty clear--it appears you need to upgrade your QC. Given that will likely be costly you should probably contact HP/Mercury support to determine if this could be solved perhaps with an newer add-in of some sort.
I am also going to move this thread to the QC forum, where you might get better exposure to this question.