It will be held Aug 27 at his media and film institute Whistling Woods International, said a press statement.
There will be exhibitions and seminars on Mehta's works. His directorial debut "Moksh" will also be screened in the presence of its lead actors Arjun Rampal and Manisha Koirala.
Mehta, who breathed his last Aug 15 following advanced lung cancer, was among one of India's best known cinematographers. He had shot films like Shekhar Kapur's "Bandit Queen", Shyam Benegal's "Mandi" and "Trikaal", Aparna Sen's "36 Chowringhee Lane" and "Paroma", Shashi Kapoor's "Utsav" and MF Hussain's "Gaja Gamini". Ghai and Mehta had worked together on films like "Ram Lakhan" (1989), "Khal Nayak" (1993) and "Kisna" (2005). Mehta died Aug 15. He was 65.