Hi Pramod,
Do the following:
1) create a Javascript Node with one integer output param;
2) place the following code: $parameters.TimerHandle = setInterval($actions.MyAction, 5000);
3) store the TimerHandle in a local variable of the screen to use it later
4) in the On Destroy event of the screen place another Javascript Node with one input integer param
5) insert there the following code: clearInterval($parameters.TimerHandle);