PUTNAM INTERMEDIATE TAX EXEMPT FUND
NSAR-A, 1995-06-14
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<PAGE>      PAGE  1
000 A000000 03/31/95
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000 E000000 NF
000 F000000 Y
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000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 PUTNAM INTERMEDIATE TAX EXEMPT FUND
001 B000000 811-7151
001 C000000 6172921000
002 A000000 ONE POST OFFICE SQUARE
002 B000000 BOSTON
002 C000000 MA
002 D010000 02109
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008 B000001 A
008 C000001 801-7974
008 D010001 BOSTON
008 D020001 MA
008 D030001 02109
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011 B000001 8-5088
011 C010001 BOSTON
011 C020001 MA
011 C030001 02109
012 A000001 PUTNAM INVESTOR SERVICES
012 B000001 84-401299
012 C010001 BOSTON
012 C020001 MA
012 C030001 02109
013 A000001 COOPERS & LYBRAND
013 B010001 BOSTON
013 B020001 MA
<PAGE>      PAGE  2
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015 A000001 PUTNAM FIDUCIARY TRUST CO
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022 C000002      4887
022 D000002      1485
022 A000003 MCDONALD & CO.
022 B000003 34-0642435
022 C000003      1793
022 D000003       687
022 A000004 MERRILL LYNCH PIERCE FENNER SMITH
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<PAGE>      PAGE  4
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SIGNATURE   GORDON H. SILVER                             
TITLE       VICE PRESIDENT      
 

WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM Putnam Intermediate Tax Exempt Income Class A AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
<S>                                                 <C>
<PERIOD-TYPE>                                      SEMI
<FISCAL-YEAR-END>                           SEP-30-1994
<PERIOD-END>                                MAR-31-1995
<INVESTMENTS-AT-COST>                        10,691,845
<INVESTMENTS-AT-VALUE>                       11,010,769
<RECEIVABLES>                                   394,153
<ASSETS-OTHER>                                  355,843
<OTHER-ITEMS-ASSETS>                                  0
<TOTAL-ASSETS>                               11,760,765
<PAYABLE-FOR-SECURITIES>                              0
<SENIOR-LONG-TERM-DEBT>                               0
<OTHER-ITEMS-LIABILITIES>                       142,318
<TOTAL-LIABILITIES>                             142,318
<SENIOR-EQUITY>                                       0
<PAID-IN-CAPITAL-COMMON>                     11,710,549
<SHARES-COMMON-STOCK>                           879,024
<SHARES-COMMON-PRIOR>                                 0
<ACCUMULATED-NII-CURRENT>                         1,061
<OVERDISTRIBUTION-NII>                                0
<ACCUMULATED-NET-GAINS>                       (407,556)
<OVERDISTRIBUTION-GAINS>                              0
<ACCUM-APPREC-OR-DEPREC>                        314,393
<NET-ASSETS>                                 11,618,447
<DIVIDEND-INCOME>                                     0
<INTEREST-INCOME>                               329,760
<OTHER-INCOME>                                        0
<EXPENSES-NET>                                   55,414
<NET-INVESTMENT-INCOME>                         274,346
<REALIZED-GAINS-CURRENT>                      (332,107)
<APPREC-INCREASE-CURRENT>                       344,223
<NET-CHANGE-FROM-OPS>                           286,462
<EQUALIZATION>                                        0
<DISTRIBUTIONS-OF-INCOME>                     (175,195)
<DISTRIBUTIONS-OF-GAINS>                              0
<DISTRIBUTIONS-OTHER>                                 0
<NUMBER-OF-SHARES-SOLD>                         662,966
<NUMBER-OF-SHARES-REDEEMED>                   (311,730)
<SHARES-REINVESTED>                              13,129
<NET-CHANGE-IN-ASSETS>                        4,454,972
<ACCUMULATED-NII-PRIOR>                               0
<ACCUMULATED-GAINS-PRIOR>                             0
<OVERDISTRIB-NII-PRIOR>                               0
<OVERDIST-NET-GAINS-PRIOR>                            0
<GROSS-ADVISORY-FEES>                            30,377
<INTEREST-EXPENSE>                                    0
<GROSS-EXPENSE>                                  55,414
<AVERAGE-NET-ASSETS>                          6,333,099
<PER-SHARE-NAV-BEGIN>                              8.23
<PER-SHARE-NII>                                     .23
<PER-SHARE-GAIN-APPREC>                           (.11)
<PER-SHARE-DIVIDEND>                                  0
<PER-SHARE-DISTRIBUTIONS>                         (.22)
<RETURNS-OF-CAPITAL>                                  0
<PER-SHARE-NAV-END>                                8.13
<EXPENSE-RATIO>                                     .42
<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>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM Putnam Intermediate Tax Exempt Income Class B AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
<S>                                                 <C>
<PERIOD-TYPE>                                      SEMI
<FISCAL-YEAR-END>                           SEP-30-1994
<PERIOD-END>                                MAR-31-1995
<INVESTMENTS-AT-COST>                        10,691,845
<INVESTMENTS-AT-VALUE>                       11,010,769
<RECEIVABLES>                                   394,153
<ASSETS-OTHER>                                  355,843
<OTHER-ITEMS-ASSETS>                                  0
<TOTAL-ASSETS>                               11,760,765
<PAYABLE-FOR-SECURITIES>                              0
<SENIOR-LONG-TERM-DEBT>                               0
<OTHER-ITEMS-LIABILITIES>                       142,318
<TOTAL-LIABILITIES>                             142,318
<SENIOR-EQUITY>                                       0
<PAID-IN-CAPITAL-COMMON>                     11,710,549
<SHARES-COMMON-STOCK>                           549,595
<SHARES-COMMON-PRIOR>                                 0
<ACCUMULATED-NII-CURRENT>                         1,061
<OVERDISTRIBUTION-NII>                                0
<ACCUMULATED-NET-GAINS>                       (407,556)
<OVERDISTRIBUTION-GAINS>                              0
<ACCUM-APPREC-OR-DEPREC>                        314,393
<NET-ASSETS>                                 11,618,447
<DIVIDEND-INCOME>                                     0
<INTEREST-INCOME>                               329,760
<OTHER-INCOME>                                        0
<EXPENSES-NET>                                   55,414
<NET-INVESTMENT-INCOME>                         274,346
<REALIZED-GAINS-CURRENT>                      (332,107)
<APPREC-INCREASE-CURRENT>                       344,223
<NET-CHANGE-FROM-OPS>                           286,462
<EQUALIZATION>                                        0
<DISTRIBUTIONS-OF-INCOME>                      (96,817)
<DISTRIBUTIONS-OF-GAINS>                              0
<DISTRIBUTIONS-OTHER>                                 0
<NUMBER-OF-SHARES-SOLD>                         300,800
<NUMBER-OF-SHARES-REDEEMED>                   (113,798)
<SHARES-REINVESTED>                               7,388
<NET-CHANGE-IN-ASSETS>                        4,454,972
<ACCUMULATED-NII-PRIOR>                               0
<ACCUMULATED-GAINS-PRIOR>                             0
<OVERDISTRIB-NII-PRIOR>                               0
<OVERDIST-NET-GAINS-PRIOR>                            0
<GROSS-ADVISORY-FEES>                            30,377
<INTEREST-EXPENSE>                                    0
<GROSS-EXPENSE>                                  55,414
<AVERAGE-NET-ASSETS>                          3,914,195
<PER-SHARE-NAV-BEGIN>                              8.24
<PER-SHARE-NII>                                     .20
<PER-SHARE-GAIN-APPREC>                           (.10)
<PER-SHARE-DIVIDEND>                                  0
<PER-SHARE-DISTRIBUTIONS>                         (.20)
<RETURNS-OF-CAPITAL>                                  0
<PER-SHARE-NAV-END>                                8.14
<EXPENSE-RATIO>                                     .73
<AVG-DEBT-OUTSTANDING>                                0
<AVG-DEBT-PER-SHARE>                                  0
        

</TABLE>


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