The pair have formed the backbone of Australia's batting lineup this summer and looked set to define the match once more, before Siraj produced a gem that caught Labuschange's edge and spat to third slip.
Australia must force victory on the final day to regain the Border-Gavaskar Trophy, which will remain with India if the match - and series - ends in a draw. "I am speechless, I am unable to speak about my performance".
"It's hard to know, obviously with the rain coming", Australia batsman Steve Smith told reporters.
The highest successful run chase at the Brisbane venue was in 1951, when Australia finished 236-7 against the West Indies.
The 46-year-old believes that the hosts are favourites to win the last Test and the series as though they have given a tough fight thus far, they ought to have a bad day with so many injuries and setbacks.
Smith said off-spinner Nathan Lyon, who is playing his 100th Test and needs three more scalps to reach 400 Test wickets, could play a big role on Tuesday.
However, India will feel they can at least save the Test against an Australian attack that looked tired in the first innings.
Before the start of play on day four of the ongoing Gabba Test, Bumrah and Ashwin were seen practicing their skills.
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"Today a few balls shot up so tomorrow it's going to be case of hitting the right areas and letting the natural variation of a day five wicket do its work, and hopefully we can hang on to the chances".
Australia started play 21 without loss on Monday and cruised to 89-0 on the fourth morning before losing four wickets in six overs to slip to 123-4.
Siraj picked up two of those in the space of four deliveries, removing the unsafe Marnus Labuschagne (25) before having Matthew Wade caught behind for a duck.
Siraj chimed in with two wickets in an over to remove Marnus Labuschagne, who scored 25 from 22 balls, and Matthew Wade (0) in the same over.
Siraj put down two catches before picking up the key wicket of Steve Smith for 55 in the middle session as India's injury-depleted bowling attack kept taking the game to Australia.
A Gabba pitch that was largely benign through the opening days began to bare its teeth on Monday, with Smith (55) gloving a catch to captain Ajinkya Rahane after a Mohammed Siraj ball reared up from the wicket.
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