To start the tutorial we need:

1. A background image, which is an underwater photo.
2. A perfume Bottle image.
3. Ice Brush downloaded from deviantArt.
4. Bubble Brush downloaded from deviantArt.

Open a document 600 x 400. Place the Underwater pic as the first layer.

Next, place the perfume bottle with transparent background on top, in the center leaving aroung 40 – 50 pixel height from the bottom.

Scale down the perfume bottle by 65% by applying transform (Ctrl+T). Rotate the bottle to -33 degree.

Change the layer blending option to hard light. From the layer style, apply outer glow. Size of glow to 15 . This will give the bottle a visibility.

Download the brush. To Load a new brush, click on the brush tool.

Now click on the Brush Preset Picker.

Next click on the small arrow button on the right, to open the load brush menu.

Load the brush from where the brush has been saved.

The recent loaded bubble brush will be at the bottom most of all brushes.

Select the bubble ” 8 ” Brush. Now change the settings of the brush as below.

Make a new layer – Draw upwards on direction, as shown below.

In the same way, load the ice brush. Let it remain in big size , around 215.

Make a new layer and Click to get the ice cube.

Apply 2 more times and position it as below. See that the bottle leans on the ice cube.

To make rays coming from the top layer of the water, we need to do some exercise.

Change the Ice brush to round brush.

Make the big size dot to 50 – 60px. In between make a small dot of 25 px, as shown below.

Apply Motion Blur, with the below settings.

Add perspective from the transform menu.

Duplicate a copy of ray and place it to give more light.

To make the Rays bringing light to the under surface, we need to make a mask.

Create a new layer above all layers and fill it with black color.

Draw a Shape as below with the Lasso tool. Apply Feather with below setting.

Hit delete to remove the area.

Change the layer blending option to Overlay. Now you can see a dark area has been surrounded which makes the light beams more prominent.

To give a prominence to the product (Perfume Bottle) , just duplicate the bottle layer.

Change the layer blending option to Color Burn. You can see that the bottle is now more visible.

The final result will be as below.

Thankyou!