A Washington-area construction company executive was sentenced in federal court in Baltimore yesterday to 60 days in a work release program and fined $10,000 for income-tax evasion.

Paul M. Most, 61, vice president in charge of the construction division of Charles E. Smith & Co., was sentenced by U.S. District Court Judge Frank Kaufman. Most pleaded guilty Jan. 20 to one count of income-tax evasion for 1977.

Assistant U.S. Attorney Richard Dunne said Most, a $106,000-a-year executive, failed to report $12,004 in 1977 income from stocks, bonds and savings accounts and underpaid his taxes that year by $7,466. Most also claimed exemptions for "emancipated adult children," Dunne said.

Dunne said Most underreported his income from 1972 to 1978, although charges were brought for only one year as part of a plea agreement.

Kaufman imposed the maximum fine but suspended all but 60 days of a five-year prison sentence. During the two-month period, Most will work at his regular job but stay overnight at a Baltimore halfway house recently occupied by former Maryland governor Marvin Mandel before his parole.

After 60 days, Most is to perform 300 hours of community service while on probation. He also must make restitution as well as pay penalties and interest to the Internal Revenue Service, whose special agents brought the case to the U.S. attorney's attention.