Adjustment of income from interest in business loss

we have a partnership business deals in purchase and sale of land and development of land
we have given our land on a development agreement in which if project is not completed within specified period builder paid us interest of 50k per month on which TDS is deducted in 194A
we have loans from banks and other parties on which we are paying approx 1 lakh per month on which we are also deducting TDS under 194A

my query is can we adjust total of 6 lakhs interest received in total 12 lakhs of interest paid
or
we have to pay income tax on 6 lakhs of interest received and carry forward total loss of 12 lakhs paid in interest

Thanks in Advance