In VBA the "Copy" command copies the cell itself, so you will get all the formatting and so on with it. However, you can use "PasteSpecial" with the parameter "xlValues" to simply paste the value, or "xlFormulas" to paste the formula as plain text.
Thanks so much for the code... but I am not able to run this. How do I run this . I have pasted this as VBA code in the current sheet. But I am not able to see this either as a macro or a VBA application.