It seems to be very interesting topic. I consider that its good to maintain your financial records clear. Profits from trading through cryptos comes under the earning from capital gain and can be of short term capital gain or long term capital gain. if you earned profit by keeping your investment for more than 1 year your income will be tax free.Moreover your net income from capital gain is subject to any losses that you occured in that year. thus any losses on investment will be deducted from the gains to get the net gain on which the tax will be levied.
Happy trading !!!!!!!!!!!!!!