AbstractThe P‐budget of Dal Lake in Kashmir is described for a 12 month period. The lake is characterized by high P‐loading (7.5 g · m−2a−1) and had high P‐retention (retention coefficient 0.32). P‐loading in the lake showed positive and negative relations with flushing rate and P‐retention respectively. A negative relation was similarly found existing between flushing and P‐retention. The roles of various biotic and abiotic factors in the P‐budget of the