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UHi im 19, my friend recently received around 500 pi coins which is a crypto currency that had to be mined and it recently launched. He was unable to trade it so i helped him by trading it on Bitget in exchange with usdt and from there i sent him his coins and he told me to keep some.
From there i transferred the Usdt to my Binance account and had a little newbie fun with it and bought some cryptos and traded basically profiting 500rs or smth but now i see that i have to pay taxes.
I have never in my life filed an ITR and known what a CA does,
My question is.What tax do i have to pay?
1. Do i have to pay tax on the first usdt i sent to my friend?
2. Do i have to pay tax on lets say i have 30k worth of ustd if i decide to withdraw it?
3. Do i get taxed 30 percent everytime i exchange the ustd for any other coin?
4. If lets say i dont withdraw it and transfer to inr to my bank account does the IT still know about it do i have to pay tax?Please help me what should i do as ive never paid any tax idk how all this works i wanted to export the funds but im lowkey scared cause i dont know how this works.
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