Yes, if a TQWL ticket remains in TQWL and is not confirmed before the day of the journey, then it is automatically cancelled and a 100% refund is granted to the person who booked the ticket.
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If you have booked more than one Tatkal ticket, and the reservation hasn't been confirmed, you are entitled to cancel and get the refund for everyone's ticket, provided that you do so up to 30 minutes before your train's scheduled departure time.
If your ticket remains fully waitlisted after chart preparation, it will be canceled automatically and your money will be refunded into the account which was used at the time of booking.