The Mahratta Chamber of Commerce, Industries and Agriculture (MCCIA) will observe July 31 as Tax Freedom Day.' 

A seminar on Tax Payers' Rights' has been planned at 5 pm at Balgandharva Rangmandir.

"Tax Freedom Day is a new concept in India and we are celebrating it for the first time with this seminar," said S K Jain, vice-president and chairman of the civil aviation committee, MCCIA, at a news conference here on Wednesday.

The programme will comprise a discussion on tax payers' rights with participants including Jayant Pendse, former member of Central Board of Direct Taxes, K C Singh, chief commissioner of excise, Arun Kudale, representative of industries and business and economist Pradeep Apte, representative of individual tax-payers.

The three highest individual income tax-payers for the assessment year, 2008-2009 will be felicitated on the occasion. Pune Merchants Chamber and Vyapari Mitra,' a magazine dedicated to tax matters, will also be felicitated.

"Towards the end of the seminar we are going to prepare a resolution on the tax-payers' rights, and send it to the Union finance minister," said tax consultant Govind Patwardhan, chairman of the direct taxation committee at MCCIA.

Highlighting the fact that urban Indian citizens often end up paying almost one-third of their total income as taxes, directly or indirectly, Patwardhan said the programme will conclude with a 20-minute session by him on Good Service Tax (GST), A Revolutionary Step.' "Tax Freedom Day is celebrated in the US, South Africa, Switzerland and Israel, among other countries," he added.

The programme has been organised by MCCIA in co-operation with the Western Maharashtra Tax Practitioners' Association and Institute of Chartered Accountants, Pune Chapter.