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This is an advance income tax deducted by the person paying to his (debtor) by a certain %age and submitted to the Tax authority and in return a certificated is given to the person on whose behalf the tax has been paid (debtor) .The debtor is supposed to receive the certificate for the tax with held.
At the end of year, when the Debtor is filling his income tax he is supposed to deduct from his income tax liability the amount of taxes with held from him ,by giving the details of all his withholding certificates he has received>
Holding Taxes are type of advance Sales or Income tax which is deducted and submitted to government on behalf of any person
its not holding but withholding taxes.
these are another type of advance tax.