A "refundable" ticket generally allows you to cancel and receive your money back up until the moment of departure, though specific airline policies may vary. In the United States, most major carriers allow you to cancel a fully refundable fare right up until the flight closes (usually 10–30 minutes before takeoff) and still receive a full refund to your original form of payment. In India, under the 2026 DGCA regulations, a new "48-hour look-in" policy allows for fee-free cancellations within 48 hours of booking, provided the flight is at least 7 days away. However, for a "standard" refundable fare, you should aim to cancel at least 2 to 3 hours before departure to avoid being marked as a "No-Show." If you are marked as a no-show, even a refundable ticket may become much harder to process, and the airline might only offer a travel credit instead of a cash refund. Always check the "Fare Rules" on your specific e-ticket for the exact "T-minus" cutoff.