<PAGE> PAGE 1
000 B000000 10/31/96
000 C000000 0000824463
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 Y
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 PUTNAM MASTER INCOME TRUST
001 B000000 811-5375
001 C000000 6172921562
002 A000000 ONE POST OFFICE SQUARE
002 B000000 BOSTON
002 C000000 MA
002 D010000 02109
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
062 A000000 Y
062 B000000 0.0
062 C000000 0.0
062 D000000 2.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 11.5
062 N000000 22.7
062 O000000 0.0
062 P000000 33.5
062 Q000000 24.7
062 R000000 6.4
071 A000000 1308781
071 B000000 1322063
071 C000000 486534
071 D000000 280
072 A000000 12
074 N000000 554180
074 T000000 495725
075 A000000 0
075 B000000 486356
077 A000000 N
078 000000 N
<PAGE> PAGE 2
080 A000000 FEDERAL INSURANCE COMPANY
080 B000000 NATIONAL UNION FIRE INSURANCE COMPANY
080 C000000 50000
081 A000000 Y
081 B000000 97
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
SIGNATURE PAUL BUCUVALAS
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Financial Data Schedule for Putnam Master Income Trust
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> CLASS A
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> OCT-31-1996
<INVESTMENTS-AT-COST> 492,690,571
<INVESTMENTS-AT-VALUE> 498,923,144
<RECEIVABLES> 50,647,809
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 4,609,081
<TOTAL-ASSETS> 554,180,034
<PAYABLE-FOR-SECURITIES> 34,538,269
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 23,917,480
<TOTAL-LIABILITIES> 58,455,749
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> ,485,523,998
<SHARES-COMMON-STOCK> 53,147,249
<SHARES-COMMON-PRIOR> 53,311,249
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (1,034,382)
<ACCUMULATED-NET-GAINS> 6,206,763
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 5,027,906
<NET-ASSETS> 495,724,285
<DIVIDEND-INCOME> 1,090,794
<INTEREST-INCOME> 39,567,003
<OTHER-INCOME> 0
<EXPENSES-NET> 4,518,798
<NET-INVESTMENT-INCOME> 36,138,999
<REALIZED-GAINS-CURRENT> 18,198,111
<APPREC-INCREASE-CURRENT> (2,465,875)
<NET-CHANGE-FROM-OPS> 51,871,235
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (36,742,441)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> (164,000)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 13,810,511
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (9,629,636)
<OVERDISTRIB-NII-PRIOR> (2,654,955)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,647,975
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,518,798
<AVERAGE-NET-ASSETS> 486,355,730
<PER-SHARE-NAV-BEGIN> 9.04
<PER-SHARE-NII> .68
<PER-SHARE-GAIN-APPREC> .30
<PER-SHARE-DIVIDEND> (.69)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.33
<EXPENSE-RATIO> .95
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
