Whether you purchase a confirm/RAC/WL train ticket you always have the liberty to cancel your ticket as and when you want. Whenever you cancel your ticket your money will be accordingly refunded back to you. The amount of money that will be refunded back to you will depend on the time when you chose to cancel your ticket before your final travel date.
Reason for cancellation
There are several reasons why people cancel their tickets. Sometimes the passengers cancel their tickets due to certain change in their travel plan. Sometimes certain people to get the desired preferences book WT tickets in different classes or in different trains. As the date of their travel approach closer they cancel all the other RAC/WL tickets and only keep those RAC/WL tickets that have the most upward movements.
Rates of refund
The cancellation charges for the 1A/ECC class is around RS 70/passenger; for 2A/3A/CC/FC it’s around RS 60/passenger; for SL/2S the rates are around Rs 40/passenger and for the RAC/WL the cancellation charge is almost Rs 20/passenger. The important point to remember is that these cancellation charges are applicable when you cancel your ticket 24 hrs prior excluding your travel date. If you cancel your train ticket after the state time period than your cancellation may shoot up to 50% or so.
While cancelling your ticket always remember to avoid cancelling your tickets unless and until you have got the better one. For this you need to wait till the very last moment. It is always advisable that you cancel the tickets only two days before your final departure date.