Based on Annexure A of the MITC and Clause 3 of the SEBI Circular dated February 17, 2025. See our Cancellation Policy for how to cancel a subscription — this page covers what refund (if any) applies once a service is cancelled.
Cases where a refund will NOT be provided
- Services rendered as agreed and the client is merely dissatisfied, with no breach or deficiency in service.
- RA unable to deliver for reasons beyond its control (technical/operational issues) — no refund, though the service period may be extended at the RA's sole discretion if the disruption exceeds 7 days.
- Force majeure events (natural disasters, pandemics, etc.), where excluded under the service agreement.
- Full subscription period already utilized.
- Partial utilization without formal written termination (minimum 10 days' written notice with reason required for a smooth deboarding).
- No refund for partially-utilized months — only full unutilized months qualify. Example: fee paid 1 Feb for 3 months, terminated 10 March → no refund for March; refund only for the fully-unutilized month of April.
- Losses from adverse market conditions or recommendations not resulting in profit.
- Client's breach of these Terms (fraud, misuse of reports, fraudulent KYC documents).
- Free trial or promotional services.
- Client found in violation of SEBI regulations (e.g. illegally sharing reports).
- Voluntary opt-out without valid reason/documentation.
- Non-refundable fees (e.g. administrative/onboarding charges), where designated as such in the agreement.
Cases where the client IS entitled to a refund
- Client's premature termination — pro-rata refund for the unexpired period, subject to the conditions above.
- RA's premature termination of services — pro-rata refund for the unutilized period.
- Regulatory action against the RA (SEBI/RAASB suspension or cancellation) — pro-rata refund, not subject to the "no partial month" restriction.
- Double payment or overcharging beyond the ₹1,51,000/annum/family cap — the excess is refunded.
- Clients on the Centralized Fee Collection Mechanism (CeFCoM) who discontinue — refund processed through CeFCoM.
Refund calculation & processing
- Pro-rata basis only, on the unexpired period.
- Refund requests must be submitted in writing (email or official channel).
- Processed within 30 days of approval.
- Credited to the same payment method used (bank transfer/UPI/digital only — no cash refunds).
Note: this document is periodically updated per SEBI/RAASB circulars. In case of any discrepancy, please contact profitxresearch@gmail.com before making payment. See also the full Refund Policy section on our Legal & Compliance page.