<PAGE> PAGE 1
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013 B020001 MA
<PAGE> PAGE 2
013 B030001 02109
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020 C000002 3
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020 B000003 13-2638166
020 C000003 3
020 A000004 BEAR STERNS & CO.
020 B000004 13-4946705
020 C000004 2
020 A000005 FIMAT FUTURES USA INC.
020 C000005 2
020 A000006 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
020 B000006 13-5674085
020 C000006 1
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022 C000002 2302565
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022 C000003 1604308
022 D000003 1193042
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022 B000005 13-5659485
022 C000005 926343
<PAGE> PAGE 3
022 D000005 443246
022 A000006 DIRECT ASSOCIATES CORP
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022 A000007 MORGAN STANLEY DEAN WITTER
022 C000007 715682
022 D000007 430979
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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SIGNATURE PAUL BUCUVALAS
TITLE MANAGING DIRECTOR
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Putnam Income Fund
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> CLASS A
<S> <C>
<PERIOD-TYPE> SEMI
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 3,885,233,537
<INVESTMENTS-AT-VALUE> 3,844,913,294
<RECEIVABLES> 125,544,651
<ASSETS-OTHER> 1,473,159
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 3,971,931,104
<PAYABLE-FOR-SECURITIES> 55,725,331
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 40,049,839
<TOTAL-LIABILITIES> 95,775,170
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,992,624,730
<SHARES-COMMON-STOCK> 201,392,297
<SHARES-COMMON-PRIOR> 207,587,546
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (7,385,220)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 68,740,115
<ACCUM-APPREC-OR-DEPREC> (40,343,461)
<NET-ASSETS> 3,876,155,934
<DIVIDEND-INCOME> 878,888
<INTEREST-INCOME> 122,598,317
<OTHER-INCOME> 0
<EXPENSES-NET> 20,940,089
<NET-INVESTMENT-INCOME> 102,537,116
<REALIZED-GAINS-CURRENT> (44,600,059)
<APPREC-INCREASE-CURRENT> (6,031,278)
<NET-CHANGE-FROM-OPS> 51,905,779
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (44,629,595)
<DISTRIBUTIONS-OF-GAINS> 0
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<NUMBER-OF-SHARES-SOLD> 58,822,842
<NUMBER-OF-SHARES-REDEEMED> (70,199,108)
<SHARES-REINVESTED> 5,181,017
<NET-CHANGE-IN-ASSETS> 519,844,972
<ACCUMULATED-NII-PRIOR> 2,851,787
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<PER-SHARE-NII> .20
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<PER-SHARE-DIVIDEND> (.22)
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<PER-SHARE-NAV-END> 6.76
<EXPENSE-RATIO> .49
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Putnam Income Fund
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> CLASS B
<S> <C>
<PERIOD-TYPE> SEMI
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 3,885,233,537
<INVESTMENTS-AT-VALUE> 3,844,913,294
<RECEIVABLES> 125,544,651
<ASSETS-OTHER> 1,473,159
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<PAYABLE-FOR-SECURITIES> 55,725,331
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<OTHER-ITEMS-LIABILITIES> 40,049,839
<TOTAL-LIABILITIES> 95,775,170
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,992,624,730
<SHARES-COMMON-STOCK> 75,132,018
<SHARES-COMMON-PRIOR> 72,389,042
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (7,385,220)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 68,740,115
<ACCUM-APPREC-OR-DEPREC> (40,343,461)
<NET-ASSETS> 3,876,155,934
<DIVIDEND-INCOME> 878,888
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<NET-CHANGE-IN-ASSETS> 519,844,972
<ACCUMULATED-NII-PRIOR> 2,851,787
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 24,140,056
<GROSS-ADVISORY-FEES> 9,050,084
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 21,451,123
<AVERAGE-NET-ASSETS> 505,641,312
<PER-SHARE-NAV-BEGIN> 6.83
<PER-SHARE-NII> .17
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<PER-SHARE-NAV-END> 6.73
<EXPENSE-RATIO> .87
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Putnam Income Fund
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> CLASS M
<S> <C>
<PERIOD-TYPE> SEMI
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 3,885,233,537
<INVESTMENTS-AT-VALUE> 3,844,913,294
<RECEIVABLES> 125,544,651
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<PAYABLE-FOR-SECURITIES> 55,725,331
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<TOTAL-LIABILITIES> 95,775,170
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<PAID-IN-CAPITAL-COMMON> 3,992,624,730
<SHARES-COMMON-STOCK> 261,125,972
<SHARES-COMMON-PRIOR> 173,879,305
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (7,385,220)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 68,740,115
<ACCUM-APPREC-OR-DEPREC> (40,343,461)
<NET-ASSETS> 3,876,155,934
<DIVIDEND-INCOME> 878,888
<INTEREST-INCOME> 122,598,317
<OTHER-INCOME> 0
<EXPENSES-NET> 20,940,089
<NET-INVESTMENT-INCOME> 102,537,116
<REALIZED-GAINS-CURRENT> (44,600,059)
<APPREC-INCREASE-CURRENT> (6,031,278)
<NET-CHANGE-FROM-OPS> 51,905,779
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<DISTRIBUTIONS-OF-INCOME> (45,866,093)
<DISTRIBUTIONS-OF-GAINS> 0
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<NUMBER-OF-SHARES-SOLD> 95,641,815
<NUMBER-OF-SHARES-REDEEMED> (8,558,126)
<SHARES-REINVESTED> 162,978
<NET-CHANGE-IN-ASSETS> 519,844,972
<ACCUMULATED-NII-PRIOR> 2,851,787
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 24,140,056
<GROSS-ADVISORY-FEES> 9,050,084
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 21,451,123
<AVERAGE-NET-ASSETS> 1,498,803,128
<PER-SHARE-NAV-BEGIN> 6.84
<PER-SHARE-NII> .19
<PER-SHARE-GAIN-APPREC> (.09)
<PER-SHARE-DIVIDEND> (.21)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 6.73
<EXPENSE-RATIO> .62
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Putnam Income Fund
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> CLASS Y
<S> <C>
<PERIOD-TYPE> SEMI
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 3,885,233,537
<INVESTMENTS-AT-VALUE> 3,844,913,294
<RECEIVABLES> 125,544,651
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<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 3,971,931,104
<PAYABLE-FOR-SECURITIES> 55,725,331
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<OTHER-ITEMS-LIABILITIES> 40,049,839
<TOTAL-LIABILITIES> 95,775,170
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,992,624,730
<SHARES-COMMON-STOCK> 37,317,561
<SHARES-COMMON-PRIOR> 35,809,954
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (7,385,220)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 68,740,115
<ACCUM-APPREC-OR-DEPREC> (40,343,461)
<NET-ASSETS> 3,876,155,934
<DIVIDEND-INCOME> 878,888
<INTEREST-INCOME> 122,598,317
<OTHER-INCOME> 0
<EXPENSES-NET> 20,940,089
<NET-INVESTMENT-INCOME> 102,537,116
<REALIZED-GAINS-CURRENT> (44,600,059)
<APPREC-INCREASE-CURRENT> (6,031,278)
<NET-CHANGE-FROM-OPS> 51,905,779
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<NUMBER-OF-SHARES-SOLD> 12,577,820
<NUMBER-OF-SHARES-REDEEMED> (12,267,070)
<SHARES-REINVESTED> 1,196,857
<NET-CHANGE-IN-ASSETS> 519,844,972
<ACCUMULATED-NII-PRIOR> 2,851,787
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 24,140,056
<GROSS-ADVISORY-FEES> 9,050,084
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 21,451,123
<AVERAGE-NET-ASSETS> 250,866,860
<PER-SHARE-NAV-BEGIN> 6.88
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<PER-SHARE-NAV-END> 6.77
<EXPENSE-RATIO> .37
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
