Howdy Kuldeep,
Welcome to our support forums and thanks for reaching out to us! I can help you here 🙂
While this is possible it will require some custom coding from your side, which I can assist you with but not write it! What you want to achieve here is:
– Create a new taxonomy: http://www.wpbeginner.com/wp-tutorials/create-custom-taxonomies-wordpress/
– Prevent Events from using post_tags when the ‘Events’ post_type is registered and attach the new taxonomy to Events: To do this you can use the tribe_events_register_event_type_args filter to hijack the taxonomies array.
– Create a new filter in Filter Bar for the custom taxonomy: https://theeventscalendar.com/support/forums/topic/generic-function-for-adding-custom-taxonomy-to-the-filter-bar/
Please let me know if you think you can glue the pieces together,
Best,
Nico