Although different sources have different cancellation rules, generally speaking, there are no penalties if you cancel a dummy ticket before the reservation is confirmed. However, some suppliers may not give you a refund if you ask for changes after receiving your ticket or if the airline cancels your reservation. Among other crucial details, it contains the ticket itself, the itinerary, the departure date, the passenger’s name, contact information, and the PNR.
You may get a validated dummy ticket in less than 10 minutes for roughly INR 350, or $5.