Depreciation Basis ready to use or Put to use

Kishore Nuthalapati (Accountant for multiple small entities)   (151 Points)

04 July 2023  
Hi Sir or Madam

Good day

Could some one please advise

The basis to start depreciation on a particular fixed asset

is it Ready to use or Put to use

Request you to advise

1.As per companies Act
2.As per Income tax Act

Thanks in advance