<PAGE> PAGE 1
000 B000000 03/31/96
000 C000000 0000710978
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 GIT INCOME TRUST
001 B000000 811-3616
001 C000000 7035283600
002 A000000 1655 FORT MYER DRIVE
002 B000000 ARLINGTON
002 C000000 VA
002 D010000 22209
002 D020000 3108
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 2
007 C010100 1
007 C020100 MAXIMUM INCOME PORTFOLIO
007 C030100 N
007 C010200 2
007 C020200 GOVERNMENT PORTFOLIO
007 C030200 N
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 BANKERS FINANCE INVESTMENT MANAGEMENT CORP.
008 B00AA01 A
008 C00AA01 801-14517
008 D01AA01 ARLINGTON
008 D02AA01 VA
008 D03AA01 22209
008 D04AA01 3108
011 A00AA01 GIT INVESTMENT SERVICES, INC.
011 B00AA01 8-27394
011 C01AA01 ARLINGTON
011 C02AA01 VA
011 C03AA01 22209
011 C04AA01 3108
012 A00AA01 GIT INCOME TRUST
<PAGE> PAGE 2
012 B00AA01 84-1186
012 C01AA01 ARLINTON
012 C02AA01 VA
012 C03AA01 22209
012 C04AA01 3108
013 A00AA01 ERNST & YOUNG LLP
013 B01AA01 WASHINGTON
013 B02AA01 DC
013 B03AA01 20036
014 A00AA01 GIT INVESTMENT SERVICES, INC.
014 B00AA01 8-27394
015 A00AA01 STAR BANK, NA
015 B00AA01 C
015 C01AA01 CINCINNATI
015 C02AA01 OH
015 C03AA01 45202
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 13
019 C00AA00 GITINVESTF
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 DONALDSON, LUFKIN & JENRETTE
022 B000001 131898818
022 C000001 478739
022 D000001 0
022 A000002 NATWEST
022 B000002 110773597
022 C000002 8829
022 D000002 9720
022 A000003 ZIONS/DISCOUNT CORP OF NY
022 B000003 870189025
022 C000003 3163
022 D000003 5605
022 A000004 BARCLAYS
022 B000004 133551367
022 C000004 4249
022 D000004 2037
022 A000005 PRUDENTIAL BACHE
022 B000005 222347336
022 C000005 2228
<PAGE> PAGE 3
022 D000005 2135
022 A000006 GRANTCHESTER
022 B000006 136502273
022 C000006 987
022 D000006 3180
022 A000007 PAINE WEBBER JACKSON
022 B000007 132638166
022 C000007 1732
022 D000007 452
022 A000008 MERRILL LYNCH
022 B000008 135674085
022 C000008 968
022 D000008 738
022 A000009 NATIONSBANK
022 B000009 561684171
022 C000009 1259
022 D000009 0
022 A000010 J.P. MORGAN
022 B000010 133224016
022 C000010 244
022 D000010 773
023 C000000 505234
023 D000000 27213
024 00AA00 N
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
029 00AA00 N
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 N
041 00AA00 N
042 A00AA00 0
042 B00AA00 0
042 C00AA00 0
042 D00AA00 0
042 E00AA00 0
<PAGE> PAGE 4
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 0
044 00AA00 0
045 00AA00 Y
046 00AA00 N
047 00AA00 Y
048 00AA00 0.625
048 A01AA00 0
048 A02AA00 0.000
048 B01AA00 0
048 B02AA00 0.000
048 C01AA00 0
048 C02AA00 0.000
048 D01AA00 0
048 D02AA00 0.000
048 E01AA00 0
048 E02AA00 0.000
048 F01AA00 0
048 F02AA00 0.000
048 G01AA00 0
048 G02AA00 0.000
048 H01AA00 0
048 H02AA00 0.000
048 I01AA00 0
048 I02AA00 0.000
048 J01AA00 0
048 J02AA00 0.000
048 K01AA00 0
048 K02AA00 0.000
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 N
054 A00AA00 Y
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 N
054 N00AA00 N
054 O00AA00 N
<PAGE> PAGE 5
055 A00AA00 N
055 B00AA00 N
056 00AA00 N
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 2500
066 A00AA00 N
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
070 A01AA00 Y
070 A02AA00 Y
070 B01AA00 N
070 B02AA00 N
070 C01AA00 Y
070 C02AA00 N
070 D01AA00 N
070 D02AA00 N
070 E01AA00 Y
070 E02AA00 N
070 F01AA00 N
070 F02AA00 N
070 G01AA00 N
070 G02AA00 N
070 H01AA00 N
070 H02AA00 N
070 I01AA00 N
070 I02AA00 N
070 J01AA00 N
070 J02AA00 N
070 K01AA00 N
070 K02AA00 N
070 L01AA00 Y
070 L02AA00 N
070 M01AA00 N
070 M02AA00 N
070 N01AA00 Y
070 N02AA00 N
070 O01AA00 Y
070 O02AA00 N
070 P01AA00 N
070 P02AA00 N
070 Q01AA00 N
070 Q02AA00 N
070 R01AA00 N
070 R02AA00 N
077 A000000 Y
<PAGE> PAGE 6
077 B000000 Y
078 000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 C00AA00 3000
081 A00AA00 Y
081 B00AA00 10
082 A00AA00 Y
082 B00AA00 25
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
028 A010100 74
028 A020100 38
028 A030100 0
028 A040100 115
028 B010100 312
028 B020100 40
028 B030100 0
028 B040100 282
028 C010100 313
028 C020100 40
028 C030100 0
028 C040100 415
028 D010100 142
028 D020100 38
028 D030100 0
028 D040100 136
028 E010100 69
028 E020100 35
028 E030100 0
028 E040100 189
028 F010100 53
028 F020100 44
028 F030100 0
028 F040100 94
028 G010100 963
028 G020100 235
028 G030100 0
028 G040100 1231
028 H000100 0
062 A000100 Y
062 B000100 0.0
062 C000100 0.0
062 D000100 6.1
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
<PAGE> PAGE 7
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 10.6
062 N000100 0.0
062 O000100 0.0
062 P000100 80.8
062 Q000100 0.0
062 R000100 0.0
063 A000100 0
063 B000100 5.9
064 A000100 N
064 B000100 N
071 A000100 14651
071 B000100 14495
071 C000100 6766
071 D000100 214
072 A000100 12
072 B000100 687
072 C000100 0
072 D000100 0
072 E000100 8
072 F000100 43
072 G000100 0
072 H000100 27
072 I000100 9
072 J000100 3
072 K000100 2
072 L000100 2
072 M000100 2
072 N000100 8
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 4
072 S000100 1
072 T000100 0
072 U000100 0
072 V000100 0
072 W000100 11
072 X000100 111
072 Y000100 0
072 Z000100 584
072AA000100 289
072BB000100 122
072CC010100 54
072CC020100 0
072DD010100 584
072DD020100 0
072EE000100 0
<PAGE> PAGE 8
073 A010100 0.6075
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 0
074 B000100 411
074 C000100 0
074 D000100 6204
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 0
074 K000100 0
074 L000100 185
074 M000100 0
074 N000100 6800
074 O000100 0
074 P000100 0
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 10
074 S000100 0
074 T000100 6790
074 U010100 948
074 U020100 0
074 V010100 7.16
074 V020100 0.00
074 W000100 0.0000
074 X000100 476
074 Y000100 0
075 A000100 0
075 B000100 6902
076 000100 0.00
028 A010200 57
028 A020200 26
028 A030200 0
028 A040200 126
028 B010200 26
028 B020200 26
028 B030200 0
028 B040200 155
028 C010200 42
028 C020200 28
028 C030200 0
028 C040200 65
028 D010200 64
028 D020200 25
<PAGE> PAGE 9
028 D030200 0
028 D040200 293
028 E010200 111
028 E020200 24
028 E030200 0
028 E040200 228
028 F010200 27
028 F020200 26
028 F030200 0
028 F040200 61
028 G010200 327
028 G020200 155
028 G030200 0
028 G040200 928
028 H000200 0
062 A000200 Y
062 B000200 0.0
062 C000200 0.0
062 D000200 2.7
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 96.1
062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
063 A000200 0
063 B000200 10.3
064 A000200 N
064 B000200 N
071 A000200 12094
071 B000200 12717
071 C000200 7304
071 D000200 166
072 A000200 12
072 B000200 470
072 C000200 0
072 D000200 0
072 E000200 0
072 F000200 46
072 G000200 0
072 H000200 29
072 I000200 9
072 J000200 3
<PAGE> PAGE 10
072 K000200 2
072 L000200 2
072 M000200 2
072 N000200 8
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 4
072 S000200 1
072 T000200 0
072 U000200 0
072 V000200 0
072 W000200 11
072 X000200 117
072 Y000200 0
072 Z000200 353
072AA000200 271
072BB000200 18
072CC010200 0
072CC020200 111
072DD010200 353
072DD020200 0
072EE000200 0
073 A010200 0.4719
073 A020200 0.0000
073 B000200 0.0000
073 C000200 0.0000
074 A000200 0
074 B000200 184
074 C000200 0
074 D000200 6592
074 E000200 0
074 F000200 0
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 0
074 K000200 0
074 L000200 83
074 M000200 0
074 N000200 6859
074 O000200 0
074 P000200 0
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 3
074 S000200 0
074 T000200 6856
074 U010200 706
<PAGE> PAGE 11
074 U020200 0
074 V010200 9.70
074 V020200 0.00
074 W000200 0.0000
074 X000200 482
074 Y000200 0
075 A000200 0
075 B000200 7399
076 000200 0.00
SIGNATURE RICHARD MASON
TITLE GENERAL COUNSEL
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FORM NSAR
THE ANNUAL REPORT AND THE PROSPECTUS FOR THE REGISTRANT AND IS QUALIFIED IN
ITS ENTIRETY BY REFERENCE TO SUCH SOURCE DOCUMENTS.
</LEGEND>
<CIK> 0000710978
<NAME> GIT INCOME TRUST
<SERIES>
<NUMBER> 1
<NAME> MAXIMUM INCOME PORTFOLIO
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1996
<PERIOD-START> APR-01-1995
<PERIOD-END> MAR-31-1996
<INVESTMENTS-AT-COST> 6,586,604
<INVESTMENTS-AT-VALUE> 6,614,690
<RECEIVABLES> 185,000
<ASSETS-OTHER> 487
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 6,800,177
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 10,090
<TOTAL-LIABILITIES> 10,090
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 9,834,620
<SHARES-COMMON-STOCK> 948,038
<SHARES-COMMON-PRIOR> 969,537
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (3,072,619)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 28,086
<NET-ASSETS> 6,790,087
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 687,474
<OTHER-INCOME> 7,500
<EXPENSES-NET> 110,543
<NET-INVESTMENT-INCOME> 584,431
<REALIZED-GAINS-CURRENT> 167,400
<APPREC-INCREASE-CURRENT> 53,681
<NET-CHANGE-FROM-OPS> 221,081
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 584,431
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,935,692
<NUMBER-OF-SHARES-REDEEMED> 2,564,046
<SHARES-REINVESTED> 470,973
<NET-CHANGE-IN-ASSETS> (157,381)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (3,245,865)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 42,986
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 110,543
<AVERAGE-NET-ASSETS> 6,901,838
<PER-SHARE-NAV-BEGIN> 6.938
<PER-SHARE-NII> 0.608
<PER-SHARE-GAIN-APPREC> 0.224
<PER-SHARE-DIVIDEND> (0.608)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.162
<EXPENSE-RATIO> 1.602
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FORM
NSAR, THE ANNUAL REPORT AND THE PROSPECTUS FOR THE REGISTRANT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH SOURCE DOCUMENTS.
</LEGEND>
<CIK> 0000710978
<NAME> GIT INCOME TRUST
<SERIES>
<NUMBER> 2
<NAME> GOVERNMENT PORTFOLIO
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1996
<PERIOD-START> APR-01-1995
<PERIOD-END> MAR-31-1996
<INVESTMENTS-AT-COST> 6,854,595
<INVESTMENTS-AT-VALUE> 6,775,945
<RECEIVABLES> 83,130
<ASSETS-OTHER> 211
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 6,859,286
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,184
<TOTAL-LIABILITIES> 3,184
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7,248,177
<SHARES-COMMON-STOCK> 706,487
<SHARES-COMMON-PRIOR> 801,310
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (313,425)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (78,650)
<NET-ASSETS> 6,856,102
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 470,218
<OTHER-INCOME> 0
<EXPENSES-NET> 117,404
<NET-INVESTMENT-INCOME> 352,814
<REALIZED-GAINS-CURRENT> 253,063
<APPREC-INCREASE-CURRENT> (111,252)
<NET-CHANGE-FROM-OPS> 141,811
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 352,814
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 754,345
<NUMBER-OF-SHARES-REDEEMED> 2,021,202
<SHARES-REINVESTED> 328,159
<NET-CHANGE-IN-ASSETS> (938,698)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (566,489)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 46,093
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 117,404
<AVERAGE-NET-ASSETS> 7,399,493
<PER-SHARE-NAV-BEGIN> 9.551
<PER-SHARE-NII> 0.472
<PER-SHARE-GAIN-APPREC> 0.154
<PER-SHARE-DIVIDEND> (0.472)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.705
<EXPENSE-RATIO> 1.587
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
