Succession transfers tax neutrality: firm or sole proprietorship to company allowed subject to share continuity and no other consideration. New Income-tax provision treats transfers on succession by a firm or sole proprietor to a company as non-taxable capital transfers if all business assets and liabilities vest in the company, the transferors become shareholders in proportion to prior capital accounts (or the sole proprietor holds a minimum voting power), no consideration other than share allotment is received, and the requisite collective shareholding is maintained for a specified continuity period; similar relief extends to transfers under regulated securities lending agreements subject to the securities regulator's guidelines.