Vipender,
To accomplish this, you will need to create a microflow with 2 Activities and 1 parameter.
- Pass the object selected via the lookup into the microflow as a parameter
- Create a new object of the type required using a Create activity. In the create activity, set the appropriate reference using the parameter you passed in. Do not commit this object, but do refresh it in the client.
- Using Show Form activity, open an Edit window for the new object you just created and specify the new object you just created as the form object
Now on the form where you selected the reference object, place a Microflow button and call the microflow you just created. You can change the Caption on the button and the Icon on the button to indicate what you want it to be.
Hope this helps,
Mike