Hello Mukesh Mahajan,
Perhaps this is what you are looking for:
Billing Plan for Payment Split (Multiple Payees) - Intellectual Property Management - SAP Library
If not, then I think you might be referring to milestone billing, here's some documentation on that:
Billing Plan - Billing Plan (SD-BIL-IV) - SAP Library
Milestone Billing - Billing Plan (SD-BIL-IV) - SAP Library
Hope that helps.
Pedro