deduction of advance tax

Yes, tax liability arises. (assuming no deductions under ch. VI A claimed)

can I deduct advance tax on monthly basis from my salary

Tax will be deducted by your employer(TDS). You can tell your employer to deduct it every month. You can also pay advance tax quarterly. But if you tell ur employer to deduct even 1500/- per month(if 1.5 lakh saving u/s 80c etc) or 4000/- approx (if no saving), you will not have to pay advance tax yourself as TDS will be Rs 18000/- or 48000/-which will be enough for your tax liability.