I just got Ofiice E1 Plan, now I want to do the Live Event for 500 can I do it

GaneshParkar Yes, Live Events is included in the E1 license.

https://docs.microsoft.com/en-us/microsoftteams/teams-live-events/plan-for-teams-live-events

If you open the Calendar app in Teams you should be able to create a new Live Event from the New meeting button (click on the small down arrow).

More information about setting up Live Events here:

https://docs.microsoft.com/en-us/microsoftteams/teams-live-events/set-up-for-teams-live-events