How much
AIQ: Rs 25,000 (UR/EWS) or Rs 10,000 (SC/ST/OBC/PwD). Deemed universities: Rs 2,00,000 (bulletin p.5, p.52).
When it comes back
Only after all rounds end, to the same account you paid from (bulletin p.8 rule 2.19).
When you lose it
If you are allotted a seat in Round 2 or later and do not join it, or you surrender it, the deposit is forfeited (bulletin p.7, rule 2.10).
A stray round seat must be joined or the deposit is forfeited (bulletin p.46).
State seats
You may take part in state counselling while holding an AIQ seat; to join a state seat you must resign the AIQ seat online (bulletin p.15).
See your own numbers
Check your Safe / Likely / Reach seats free in a minute.
Source: MCC PG Information Bulletin 2026 (page numbers given). Always check the latest MCC notices.