Hi @Sanjay Kumar Pandey ,
no. It's not possible to combine Availability Set and Availability Zones in an Azure VM configuration.
There reason is:
Availability sets place VMs in different fault domains in the same Azure data center zone (on different hardware). In an Availability Zone the VMs are placed in different zones/data centers in the same Azure region (on different hardware).
Details:
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Regards
Andreas Baumgarten