Hi Vijay,
Yo have to use the BAPIs BAPI_ODSO_CREATE and BAPI_ODSO_ACTIVATE.
I have used these BAPIs in my approach for generating Reporting InfoObjects based on Business Content. Here you have the option to generate a "template" DSO. Please have a look at my document Implementing Reporting InfoObjects based on Business Content. Here you can find sample coding in Class YCL_BW_REP_IOBJ Method GENERATE_TEMPLATE_DSO.
Best regards,
Sander