PUTNAM MASTER INCOME TRUST
NSAR-A, 1997-06-27
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<PAGE>      PAGE  1
000 A000000 04/30/97
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000 J000000 A
001 A000000 PUTNAM MASTER INCOME TRUST
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002 A000000 ONE POST OFFICE SQUARE
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002 C000000 MA
002 D010000 02109
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013 A000001 COOPERS & LYBRAND L.L.P.
013 B010001 BOSTON
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015 E010001 X
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<PAGE>      PAGE  2
019 C000000 PUTNAMFUND
020 A000001 SALMON BROTHERS INC.
020 B000001 13-3082694
020 C000001      3
020 A000002 MERRILL, LYNCH, FENNER, & SMITH, INC.
020 B000002 13-5674085
020 C000002      2
020 A000003 TIEDMANN INTERNATIONAL RESEARCH, INC.
020 B000003 13-3506065
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022 B000001 13-2518466
022 C000001    655230
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022 A000002 GOLDMAN SACHS & CO.
022 B000002 13-5108880
022 C000002    649084
022 D000002     34451
022 A000003 UBS SECURITIES
022 B000003 13-2932996
022 C000003    566255
022 D000003      8076
022 A000004 MORGAN (J.P.) SECUTITIES INC.
022 B000004 13-3224016
022 C000004    454770
022 D000004     16700
022 A000005 SBC WARBURG
022 C000005    286860
022 D000005       590
022 A000006 MORGAN STANLEY INC.
022 B000006 13-2655998
022 C000006    236481
022 D000006     18626
022 A000007 GREENWICH CAPITAL MARKET
022 B000007 13-3172275
022 C000007     86715
022 D000007    104590
022 A000008 SALOMON BROTHERS, INC.
022 B000008 13-3082694
022 C000008     76570
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022 A000009 MERRILL, LYNCH, FENNER & SMITH, INC.
022 B000009 13-5674085
<PAGE>      PAGE  3
022 C000009     76570
022 D000009     61465
022 A000010 DONLDSON, LUFKIN & JENRETTE SECURITIES CORP.
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SIGNATURE   PAUL BUCUVALAS                               
TITLE       VICE PRESIDENT      
 


<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
Putnam Master Income Trust
</LEGEND>
<SERIES>
   <NUMBER> 3
   <NAME> CLASS A
       
<S>                             <C>
<PERIOD-TYPE>                   OTHER
<FISCAL-YEAR-END>                          OCT-31-1996
<PERIOD-END>                               APR-30-1997
<INVESTMENTS-AT-COST>                      500,532,012
<INVESTMENTS-AT-VALUE>                     490,342,199
<RECEIVABLES>                               29,790,589
<ASSETS-OTHER>                               2,305,062
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             522,437,850
<PAYABLE-FOR-SECURITIES>                    31,747,214
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                   15,101,309
<TOTAL-LIABILITIES>                         46,848,523
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   485,106,018
<SHARES-COMMON-STOCK>                       53,095,749
<SHARES-COMMON-PRIOR>                       53,147,249
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                     (1,800,810)
<ACCUMULATED-NET-GAINS>                      3,422,263
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                  (11,138,144)
<NET-ASSETS>                               475,589,327
<DIVIDEND-INCOME>                              354,797
<INTEREST-INCOME>                           19,430,024
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               2,227,726
<NET-INVESTMENT-INCOME>                     17,557,095
<REALIZED-GAINS-CURRENT>                     4,868,529
<APPREC-INCREASE-CURRENT>                 (16,166,050)
<NET-CHANGE-FROM-OPS>                        6,259,574
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                 (18,323,523)
<DISTRIBUTIONS-OF-GAINS>                   (7,653,029)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                     53,095,749
<NUMBER-OF-SHARES-REDEEMED>                   (51,500)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                    (20,134,958)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    6,206,763
<OVERDISTRIB-NII-PRIOR>                    (1,034,382)
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                        1,796,432
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              2,267,806
<AVERAGE-NET-ASSETS>                       488,723,857
<PER-SHARE-NAV-BEGIN>                             9.33
<PER-SHARE-NII>                                    .33
<PER-SHARE-GAIN-APPREC>                          (.21)
<PER-SHARE-DIVIDEND>                             (.35)
<PER-SHARE-DISTRIBUTIONS>                        (.14)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               8.96
<EXPENSE-RATIO>                                    .46
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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