004 Putnam Income Fund
4/30/12 Semi Annual

Item 77l

New accounting pronouncements

In May 2011, the Financial Accounting Standards Board (FASB) issued
Accounting Standards Update (ASU) 2011 04 Fair Value Measurements
and Disclosures (Topic 820)  Amendments to Achieve Common Fair Value
Measurement and Disclosure Requirements in U.S. GAAP and IFRS. ASU
2011 04 amends FASB Topic 820 Fair Value Measurement and seeks to
develop common requirements for measuring fair value and for disclosing
information about fair value measurements in accordance with GAAP.
ASU 2011 04 is effective for fiscal years and interim periods
beginning after December 15, 2011. The application of ASU 2011 04 will
not have a material impact on the funds financial statements.

In December 2011, the FASB issued ASU No. 2011 11 Disclosures about
Offsetting Assets and Liabilities. The update creates new disclosure
requirements requiring entities to disclose both gross and net
information for derivatives and other financial instruments that are
either offset in the Statement of assets and liabilities or subject to
an enforceable master netting arrangement or similar agreement. The
disclosure requirements are effective for annual reporting periods
beginning on or after January 1, 2013 and interim periods within those
annual periods.  Putnam Management is currently evaluating the
application of ASU 2011 11 and its impact, if any, on the funds
financial statements.