I could not find the solution which gives first and last day of previous month with timestamp.
Here is the solution.
SELECT DATEADD(month, DATEDIFF(month, -1, getdate()) - 2, 0) as FirtDayPreviousMonthWithTimeStamp,
DATEADD(ss, -1, DATEADD(month, DATEDIFF(month, 0, getdate()), 0)) as LastDayPreviousMonthWithTimeStamp
This will return the following if currentdate = '2012-7-31'
result: 2012-06-01 00:00:00.000 2012-06-30 23:59:59.000
This will return the following if currentdate = '2012-1-1'
result: 2011-12-01 00:00:00.000 2011-12-31 23:59:59.000