How can i set the time-period when i want to save recurring event .
------->for example::the event is repeated every Sunday from morning 10am to 1:00pm

You can set start and end time in time section and select necessary recurring period ( weekly, sunday ) in the recurring section. ( if recurring events are enabled, of course )

Yes , when i selecting the recurring events the time period is not taking into account it show’s
like this from 00:00 - 30 Aug-2010 to 00:00 -30 Aug - 2010.
------>for me its not taking the time period , especially for recurring event .
------>for normal event it shows me the time periond

Works correctly locally.
If issue still occurs for you - provide any kind of sample or demo link where it can be reconstructed.