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Select the lightbulb and with a black brush with the size around 200-300px make a shadow at the bottom of the bulb like in the photo.
Set Blending Mode of the layer on Soft Light and Opacity 45%.
Click on the "Create new Fill ar Adjustment layer " icon and select from the menu Photo Filter.
Select the "Underwater" Filter and set Density at 75%.
Select the entire surface of the water pressing Ctrl+Click on the "aqua background" thumbnail layer and go to Select > Inverse or press Ctrl+Shift+I. Click on the Layer mask thumbnail of the Photo Filter (see photo)
Go to Edit > Fill or press Shift+F5 and select from menu Black.
That was it, I hope you enjoyed this tutorial and you will manage to do your own magic world.