Indian Stamp Act, 1899
Section 20: Conversion of amount expressed in foreign currencies
(1) Where an instrument is chargeable with ad valorem duty in respect of any money expressed in any currency other than that of [India] such duty shall be calculated on the value of such money in the currency of [India] according to the current rate of exchange on the day of the date of the instrument.
(2) The Central Government may, from time to time, by notification in the Official Gazette, prescribe a rate of exchange for the conversion of British or any foreign currency into the currency of [India] for the purposes of calculating stamp-duty, and such rate shall be deemed to be the current rate for the purposes of sub-section (1).
Source: India Code (indiacode.gov.in), the consolidated text published by the Legislative Department, Government of India. Text as updated on India Code on 15 October 2026. Words in square brackets [ ] were inserted or substituted by later amending Acts, and *** marks words omitted by an amendment. The amendment footnotes are not reproduced here. Official text on India Code.
Supreme Court judgments citing the section 20
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