[ARTICLE] 6
[CIK] 0000764624
[NAME] SMITH BARNEY INCOME FUNDS
[SERIES]
   [NUMBER] 1
   [NAME] PREMIUM TOTAL RETURN FUND, CLASS Y
<TABLE>
<S>                             <C>
[PERIOD-TYPE]                   6-MOS
[FISCAL-YEAR-END]                          DEC-31-1997
[PERIOD-END]                               JUN-30-1997
[INVESTMENTS-AT-COST]                    2,754,587,617
[INVESTMENTS-AT-VALUE]                   5,778,186,329
[RECEIVABLES]                               20,547,130
[ASSETS-OTHER]                             647,968,198
[OTHER-ITEMS-ASSETS]                                 0
[TOTAL-ASSETS]                           4,446,701,657
[PAYABLE-FOR-SECURITIES]                        99,783
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                  783,397,535
[TOTAL-LIABILITIES]                        783,497,318
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                 2,613,039,807
[SHARES-COMMON-STOCK]                        1,911,087
[SHARES-COMMON-PRIOR]                        1,387,020
[ACCUMULATED-NII-CURRENT]                            0
[OVERDISTRIBUTION-NII]                    (68,959,706)
[ACCUMULATED-NET-GAINS]                    147,638,419
[OVERDISTRIBUTION-GAINS]                             0
[ACCUM-APPREC-OR-DEPREC]                   971,485,820
[NET-ASSETS]                             3,663,204,340
[DIVIDEND-INCOME]                           40,938,868
[INTEREST-INCOME]                           14,810,385
[OTHER-INCOME]                                       0
[EXPENSES-NET]                              24,536,876
[NET-INVESTMENT-INCOME]                     31,212,717
[REALIZED-GAINS-CURRENT]                   140,337,711
[APPREC-INCREASE-CURRENT]                  252,048,513
[NET-CHANGE-FROM-OPS]                      423,598,601
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                    1,109,272
[DISTRIBUTIONS-OF-GAINS]                             0
[DISTRIBUTIONS-OTHER]                                0
[NUMBER-OF-SHARES-SOLD]                        524,067
[NUMBER-OF-SHARES-REDEEMED]                          1
[SHARES-REINVESTED]                                  1
[NET-CHANGE-IN-ASSETS]                     630,461,732
[ACCUMULATED-NII-PRIOR]                      1,192,859
[ACCUMULATED-GAINS-PRIOR]                    7,300,708
[OVERDISTRIB-NII-PRIOR]                              0
[OVERDIST-NET-GAINS-PRIOR]                           0
[GROSS-ADVISORY-FEES]                        9,015,151
[INTEREST-EXPENSE]                                   0
[GROSS-EXPENSE]                             24,536,876
[AVERAGE-NET-ASSETS]                        32,856,733
[PER-SHARE-NAV-BEGIN]                            19.17
[PER-SHARE-NII]                                  00.27
[PER-SHARE-GAIN-APPREC]                          02.35
[PER-SHARE-DIVIDEND]                             00.67
[PER-SHARE-DISTRIBUTIONS]                            0
[RETURNS-OF-CAPITAL]                                 0
[PER-SHARE-NAV-END]                              21.12
[EXPENSE-RATIO]                                  00.76
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
</TABLE>