If I am understanding correctly then you are saying that you received $5000 as your freelancing fees and then you invested that income in other coin, say ETH, right? Now read the details below carefully. I hope it will help you.

See in this situation, theoretically there are two taxable events arising:

• First when you received freelancer payment, you made the income of $5000 hence tax is payable on $5000.
• Second when you bought ETH, you are now investing as an investor. Imagine you sold ETH for $5500. So any profit you made over and above $5000 i.e. $500 will be taxable as capital gains.
  

This should be correct taxable treatment for your case:

• Suppose exchange rate was $1 = ₹78  on the day when you received freelancer payment. Hence, your income will be 5000*78 = ₹3,90,000. So tax as per normal bracket is payable on ₹3,90,000
• Suppose exchange rate was $1 = ₹75 when you finally sold the ETH. Hence, your profit on investment will be (5500*75) - (5000*78) = ₹22,500. So tax as per capital gains is payable on ₹22,500.

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The above treatment I described is as per normal currency i.e. fiat currency i.e. INR or USD. However, we are dealing here with more complex issue i.e. cryptocurrency. So overall, we can eliminate first taxable event if we like as we are dealing in cryptocurrencies. Consider the following two situations:

Number One: You receive $5000 worth BTC in private wallet (such as MyCelium or Electrum) and then you send BTC to Crypto-to-Crypto Exchange where you haven't done KYC like Binance. Then you exchange ETH to BTC on Binance. Finally, you send those ETH to exchange like WazirX and convert those to INR.

Number Two: You receive $5000 worth BTC in Exchange wallet like WazirX directly. There you convert BTC to ETH and keep ETH on WazirX as well. Finally you sell ETH on WazirX for INR.

Now note: In case of 'Number Two' situation, you have to follow the treatment I described in first half of my post. You should consider your whole trade as two taxable events because you have done KYC with WazirX and they have record of your all transactions. But in case of 'Number One' situation, your first taxable event is completely anonymous so rather than showing whole trade as two taxable events, you can simply show the final conversion i.e. selling ETH for INR as you income and pay tax as per normal bracket on 5500*75 = ₹4,12,500. No need to show capital gain transaction at all.

I hope it clears most of your doubts.