Where an instrument is chargeable with advalorem duty in respect of any money stated in any currency other than that of India, how the duty on the value of such money shall be calculated under the Indian Stamp Act, 1899.

According to Section 20 of the Indian Stamp Act, 1899, 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 date of the instrument. The Central Government notifies from time to time, in the Official Gazette the rate of exchange for conversion of certain foreign currencies into Indian currency for this purpose and such rate shall be deemed to be the current rate.