I am working in L1B Visa and I94 is valid till Aug-2013. I will be completing 5 years in L1 Status by Apr-2012 and planning to return india by end of March-2012.

1. I was told that if i can convert my L1 to H, I can stay 6 years. But i am aware that FY12 H1B cap was reached in Nov-2011, Is L to H conversion falls under the yearly H1 Cap or L to H conversion is possible for FY12?

2. If i return to India by Mar-2012, apply for fresh H1B in FY13 cap and back to USA in Apr-2013, Will my VISA clock reset and i can work for another 6 years (One year outside USA Mar-2012 to Apr2013)