In this study, we assess the magnitude, type, and sources of microplastic (MP) in lake bottom sediments collected from freshwater Anchar Lake, located in the Kashmir Valley, Northwest Himalaya. The MP identification was done on twenty-four lake bottom sediment samples under a stereo-microscope, and their polymer compositions were characterized using an Attenuated Total Reflectance Fourier Transform Infrared (ATR-FTIR) spectroscopy. The study reveals that 606 ± 360 (average ± SD, n = 24) numbers of MP were present per kilogram of dry sediment samples, with fibers (91%), fragments/films (8%), and pellets (1%) dominating the shape groups. Polyamide (PA, 96%) was the dominant polymer composition present in the sediment samples, followed by polyethylene terephthalate (PET, 1.4%), polystyrene (PS, 1.4%), polyvinyl chloride (PVC, 0.9%), and polypropylene (PP, 0.7%). Polymer Hazard Index (PHI) and Pollution Load Index (PLI) were used to evaluate the quality of sediments. It was noted that high PHI values (>1000) were due to the presence of PVC polymer. According to PLI values, sediments in the Anchar lake are less contaminated with MP. We conclude that MP in the Anchar Lake have a complex source derived mostly from the automobile, textile, and packaging industries.