I know here is lot of question on “start/stop timer”.But i am looking for format of
timer. I am developing one recording application which show record time.
I able to show time in second format like 1 2 3 4 5. but i need to show this time like
00.01. I need some hint or reference. here is image which i need to show. 
Thanks in Advance
I know here is lot of question on start/stop timer.But i am looking for
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Here is the very nice tutorial of simple countdown timer. Go through it and you will be able to achieve what you want.
Or A Stitch in Time is the efficient way to implement the stop watch type app from developer.android.com and yes it uses the format you required.