Can company do tds in last quarter for full yr salary?

S.192(3) reads as "The person responsible for making the payment referred to in sub-section (1) or sub-section (2) or sub-section (2A) or sub-section (2B) may, at the time of making any deduction, increase or reduce the amount to be deducted under this section for the purpose of adjusting any excess or deficiency arising out of any previous deduction or failure to deduct during the financial year."

In case of Madhya Gujrat vij Co. Ltd V. ITO [2011] it was held that its not the intention of S.192(3) that employer can casually take deduction of tax at source and resort to pay lump sum deduction at the end of financial year.

All the provisions relating to short or no deduction with interest etc will apply

Yes, the company may do so but there shall be interest payable.