Budget gives Income Tax relief but there's a catch: No change in slabs [Clearly explained with Clarification]

HIGHLIGHTS

0-2.5L - 0% 2.5L-5L - 5% (if your income < Rs5L, you pay Rs12500 BUT under Section 87A you get rebate of Rs12500. Hence NO tax)
5L-10L - 20% (if your income > Rs5L, nothing changes)
10L+ - 30% (surcharge, cess, extra)

Individual taxpayers having annual income upto Rs 5 lakhs will get full tax rebate. Individuals with gross income up to 6.5 lakh rupees will not need to pay any tax if they make investments in provident funds and prescribed equities :FM Piyush Goyal