The distribution and variability of ozone is very important to the atmospheric thermal structures, and it can exert their greater influence on climate. Present study is based on Nimbus-7 TOMS overpass column ozone for a period of 14 years (1979-1992) over twelve selected Indian stations from south to north latitude and it explores the spatial and temporal variability of Total Column Ozone (TCO). For this investigation an advanced statistical methods such as Factor Analysis and Morlet wavelet transform are employed. Total column ozone variability over these stations is grouped into two clusters (Eigen value greater than 1) by the Multivariate Factor analysis. It is found that the Group I stations shows the same nature of variability mainly due the first factor as the primarily loading and whereas as the Group II stations shows the same nature of variability due to second factor as the primary loading. The correlation value of TCO decreases from 0.9 to 0.32 as we move from south to north stations (lower latitude to higher latitude). The total column ozone over tropical stations is maximum during monsoon season with peak in the month of June and that for the higher latitude stations is during the pre-monsoon season. Annual average of TCO for tropical stations is about 265 DU and that for subtropical stations is about 280 DU and a difference of 15 DU is noted in the annual average of TCO between tropical and subtropical stations. A large reduction in TCO is noted over the Indian subcontinent in the year 1985, the same year in which the ozone hole over Antarctica was discovered. It is also found that two prominent oscillations are present in total column ozone one with a periodicity of 16 to18 months and other with 28 to 32 months (QBO periodicity) apart from the annual oscillations. These oscillations are found to be significant at above 95% level of confidence when tested with Power Spectrum method. Tropical TCO shows high concentration during the westerly phase and low concentration during the easterly phase of the equatorial stratospheric quasi-biennial oscillation.