Mining USDT from a UK company

Dear Sir,
It’s not an outright criminal offence, but it’s highly regulated and you must comply with multiple Indian laws (income-tax, TDS/withholding, FEMA/LRS paperwork, GST rules and AML/KYC rules). If you don’t follow them you can face heavy taxes, withholding obligations, reporting forms and enforcement action.

Dear Client,
Incidentally, Binance trading or cryptocurrency trading is neither illegal nor regulated by any specific legislation yet in India. However, access to websites of top global cryptocurrency exchanges and virtual digital asset service providers such as Binance, Kucoin, OKX, and others, was blocked in India. This comes after the government sent show-cause notices to these crypto exchanges for not complying with the country's money laundering laws. As per the Foreign Exchange Management Act (FEMA), individuals involved in unauthorized forex trading can face penalties, including fines and imprisonment. It is crucial to adhere to legal guidelines and trade only through authorized platforms to avoid such risks. If you are trading through official means and a SEBI-registered broker, the taxes you pay on your forex gains will be in line with capital gains taxes, as they will be taxed under this category. Income from Forex trading in India can be declared either as business income or income from other sources and is subject to individual tax income slabs which ranges between 5% to 30%. Income Tax is a branch of law or legislation that eventually comes under the purview of Chartered Accountants and Tax Consultants who have expertise and in-depth knowledge on the subject and may guide you properly to understand and navigate the issue in the right way. So, it is recommended to consult with the expert professionals for precise and authentic information/clarifications on the subject.