Present investigation was carried out during winter season of 2010-11 at Palampur, Himachal Pradesh in garden pea (Pisum sativum L.) with the broad aim of assessing its productivity and profitability following integrated use of AM fungi (AMF) and inorganic P at varying irrigation regimes in Himalayan acid Alfisol. At 120 DAS, AMF imbedded treatments exhibited an increase in plant height and LAI to the tune of 7.4 and 2.3%, respectively over non AMF treatments. Green pod yield, net returns, benefit: cost ratio got enhanced by 6.5, 12.7, 9.2%, while production and monetary efficiencies increased by 3.1 and 10.8% following AMF inoculation over non AMF treatments respectively. Increase in inorganic P levels from 50 to 100% at both irrigation regimes with or without AMF, led to increase in plant height, LAI, green pod yield, net returns and B: C ratio in pea; however, irrigation regime of IW/CPEi showed its superiority over IW/CPE06. AMF + 75% P at both irrigation regimes produced pod yield and net returns statistically similar to 100% generalized recommended P dose (GRD), thus, indicating a net saving of about 25% in fertilizer P. Overall, integrated use of AM fungi and 75% soil test based P dose at both irrigation regimes led to enhanced productivity and profitability besides economizing fertilizer P dose by about 25% in acid Alfisol conditions.