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<PAGE> PAGE 2
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SIGNATURE THOMAS G. ROSE
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 001
<NAME> SELIGMAN INCOME FUND, INC. CLASS A
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 345762
<INVESTMENTS-AT-VALUE> 377668
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<NET-ASSETS> 296291<F1>
<DIVIDEND-INCOME> 5440<F1>
<INTEREST-INCOME> 13627<F1>
<OTHER-INCOME> 38<F1>
<EXPENSES-NET> (3475)<F1>
<NET-INVESTMENT-INCOME> 15630<F1>
<REALIZED-GAINS-CURRENT> 5801
<APPREC-INCREASE-CURRENT> 4559
<NET-CHANGE-FROM-OPS> 29730
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (14996)<F1>
<DISTRIBUTIONS-OF-GAINS> (1800)<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5844<F1>
<NUMBER-OF-SHARES-REDEEMED> (8615)<F1>
<SHARES-REINVESTED> 805<F1>
<NET-CHANGE-IN-ASSETS> (23798)
<ACCUMULATED-NII-PRIOR> 132
<ACCUMULATED-GAINS-PRIOR> 3012
<OVERDISTRIB-NII-PRIOR> 0
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3475<F1>
<AVERAGE-NET-ASSETS> 304839<F1>
<PER-SHARE-NAV-BEGIN> 14.63<F1>
<PER-SHARE-NII> 0.74<F1>
<PER-SHARE-GAIN-APPREC> 0.42<F1>
<PER-SHARE-DIVIDEND> (0.73)<F1>
<PER-SHARE-DISTRIBUTIONS> (0.09)<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 14.97<F1>
<EXPENSE-RATIO> 1.14<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A only. All other data are fund level.
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<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 002
<NAME> SELIGMAN INCOME FUND, INC. CLASS B
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 8-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> APR-22-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 345762
<INVESTMENTS-AT-VALUE> 377668
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<NUMBER-OF-SHARES-REDEEMED> (24)<F1>
<SHARES-REINVESTED> 3<F1>
<NET-CHANGE-IN-ASSETS> (23798)
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<ACCUMULATED-GAINS-PRIOR> 3012
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<AVG-DEBT-PER-SHARE> 0
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<F1>Class A only. All other data are fund level.
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 004
<NAME> SELIGMAN INCOME FUND, INC. CLASS D
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
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<INVESTMENTS-AT-VALUE> 377668
<RECEIVABLES> 3866
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<SENIOR-EQUITY> 0
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<SHARES-COMMON-PRIOR> 5939<F1>
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<OTHER-INCOME> 10<F1>
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<NET-INVESTMENT-INCOME> 3695<F1>
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<DISTRIBUTIONS-OF-GAINS> (494)<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1485<F1>
<NUMBER-OF-SHARES-REDEEMED> (2165)<F1>
<SHARES-REINVESTED> 225<F1>
<NET-CHANGE-IN-ASSETS> (23798)
<ACCUMULATED-NII-PRIOR> 132
<ACCUMULATED-GAINS-PRIOR> 3012
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 508<F1>
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1607<F1>
<AVERAGE-NET-ASSETS> 84382<F1>
<PER-SHARE-NAV-BEGIN> 14.60<F1>
<PER-SHARE-NII> 0.63<F1>
<PER-SHARE-GAIN-APPREC> 0.42<F1>
<PER-SHARE-DIVIDEND> (0.61)<F1>
<PER-SHARE-DISTRIBUTIONS> (0.09)<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 14.95<F1>
<EXPENSE-RATIO> 1.90<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A only. All other data are fund level.
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</TABLE>
INDEPENDENT AUDITORS' REPORT
The Board of Directors
Seligman Income Fund, Inc.
In planning and performing our audit of the financial statements of Seligman
Income Fund, Inc. (the "Fund") for the year ended December 31, 1996, we
considered its internal control structure, including procedures for safeguarding
securities, in order to determine our auditing procedures for the purpose of
expressing an opinion on the financial statements and to comply with the
requirements of Form N-SAR, not to provide assurance on the internal control
structure.
The management of the Fund is responsible for establishing and maintaining an
internal control structure. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected benefits and related
costs of internal control structure policies and procedures. Two of the
objectives of an internal control structure are to provide management with
reasonable, but not absolute, assurance that assets are safeguarded against loss
from unauthorized use or disposition and that transactions are executed in
accordance with management's authorization and recorded properly to permit the
preparation of financial statements in conformity with generally accepted
accounting principles.
Because of the inherent limitations in any internal control structure, errors or
irregularities may occur and not be detected. Also, projection of any evaluation
of the structure to future periods is subject to the risk that it may be
inadequate because of changes in conditions or that the effectiveness of the
design and operation may deteriorate.
Our consideration of internal control structure would not necessarily disclose
all matters in the internal control structure that might be material weaknesses
under standards established by the American Institute of Certified Public
Accountants. A material weakness is a condition in which the design or operation
of the specific internal control structure elements does not reduce to a
relatively low level the risk that errors or irregularities in amounts that
would be material in relation to the financial statements being audited may
occur and not be detected within a timely period by employees in the normal
course of performing their assigned functions. However, we noted no matters
involving the internal control structure, including procedures for safeguarding
securities, that we consider to be material weaknesses as defined above as of
December 31, 1996.
This report is intended solely for the information and use of management and the
Securites and Exchange Commission.
/s/ DELOITTE & TOUCHE LLP
January 31, 1997
<PAGE>
