I developed iPhone app using base SDKs
as 6.0 and deployment target
as 6.0
Now i want to change my deployment target
to 5.0 in
You don't need to change the base SDK to change the deployment target. Just change it to 5.0 under your target options:
Note that autolayout and some other features are available only on SDK 6.0.
Edit for XCode 7+
The tab is now called General, and the Deployment target is under Deployment info:
You might also notice that you can't see older deployment targets from Adis way. So to fix that go to build settings>deployment
and then locate iOS deployment target
and change it there.