UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM N-PX ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number: 811-02273 TRANSAMERICA INCOME SHARES, INC. ----------------------------------------------------------- (Exact name of registrant as specified in charter) 570 Carillon Parkway, St. Petersburg, Florida 33716 -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip code) Dennis P. Gallagher, Box 9012, Clearwater, Florida 33758-9771 -------------------------------------------------------------------------------- (Name and address of agent for service) Registrant's telephone number, including area code: (727) 299-1800 Date of fiscal year end: March 31 -------------------------------------------------------------------------------- Date of reporting period: July 1, 2006 - June 30, 2007 -------------------------------------------------------------------------------- ******************************* FORM N-Px REPORT ******************************* ICA File Number: 811-02273 Reporting Period: 07/01/2006 - 06/30/2007 Transamerica Income Shares, Inc. ============== TRANSAMERICA INCOME SHARES, INC. (CLOSED END FUND) ============== TANGER FACTORY OUTLET CENTERS, INC. Ticker: SKT Security ID: 875465403 Meeting Date: MAY 30, 2007 Meeting Type: Annual Record Date: MAR 29, 2007 # Proposal Mgt Rec Vote Cast Sponsor 1 Increase Authorized Common Stock and For For Management Authorize New Class of -Preferred Stock ========== END NPX REPORT SIGNATURES Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. TRANSAMERICA INCOME SHARES, INC. -------------------------------- (Registrant) By: /s/ Dennis P. Gallagher ----------------------------- Dennis P. Gallagher Vice President, General Counsel and Secretary Date: August 29, 2007