Income tax liability on pass through funds

I am a NRI share holder of small company which is being wound up. There is a small amount of funds ( capital invested and dividends) left in the account which needs to be distributed to the 3 share holders. 2 of these shareholders are foreign citizens and we do not have all the documentation (FCGRP) to show the inward remmitance from 2 foriegn share-holders. Since the amount in question is not too large the other share-holders are fine that all the money is transferred to my account ( approximately 10-20 Lakhs). All the money can be transferred to my account by the appointed liquidator after paying all the taxes. So my question is

Will there be any tax laibility if the amount is transferred to my NRO account as all taxes are paid at source
Do i need to declare this while ITR filing as this is pass thru funds and I plan to settle these shareholder with my USD funds abroad.
what kind of documentation is required for me to avoid any future hassles or queries from my the income tax department

Thank you in advance for you responses

That being said, here are some general insights: -

If the amount is transferred to your NRO account, you may be subject to tax liability, even if taxes are paid at source. -

You will likely need to declare this income in your ITR filing, as it's considered part of your global income. -

To avoid future hassles or queries from the income tax department, you may want to:

1. Obtain a tax clearance certificate from the appointed liquidator.

2. Get a certificate from a chartered accountant stating that all taxes have been paid.

3. Keep detailed documentation of the entire process, including:

a. Liquidator's statement

b. Tax payment receipts

c. Bank statements showing the transfer

d. Your communication with the liquidator and other shareholders Regarding the FCGRP documentation,

you may want to consult with the liquidator or a tax expert to understand the implications and potential consequences.

Lastly, when settling the shareholder accounts with your USD funds abroad, ensure you comply with the relevant foreign exchange regulations and tax laws in your country of residence.