NSDate *localDate = [NSDate date];
NSDateFormatter *dateFormatter = [[NSDateFormatter alloc]init];
dateFormatter.dateFormat = @"MM/dd/yy";
NSString *dateString = [dateFormatter stringFromDate: localDate];
NSDateFormatter *timeFormatter = [[NSDateFormatter alloc]init];
timeFormatter.dateFormat = @"HH:mm:ss";
NSString *dateString = [timeFormatter stringFromDate: localDate];
There are many many different ways to represent the date and time so check NSDateFormatter for more info.