The booking and cancellation policy for cheap India tour packages typically involve a deposit or full payment to confirm booking, with accepted payment methods including cards, transfers, or cash. Cancellation may incur fees, varying based on timing, with refunds processed according to the operator's policy. Deadlines for cancellations are outlined in terms and conditions, and non-refundable components like hotel reservations may apply. It's important to review the terms before booking and to contact the operator for clarification if needed.