Step 1.

Open an image with any planet (I chose Earth image) and this is a "background layer". Then create a new layer "Layer 1" (press Shift+Ctrl+N) and fill it with the black color (Edit > Fill). Press "D" button for setting colours, apply Filter > Render > Clouds to this layer. Now apply Filter > Distort > Twirl with Angle->999 several times to get an image like this one:

Planetary Rings

Step 2.

Choose the Eraser Tool, set the Brush Preset picker as "Airbrush Pen Opacity Flow" 45px and erase inside and outside ring border. Now apply Filter > Distort > Twirl with Angle->999 several times to get an image like this one:

Planetary Rings

Step 3.

Apply Edit > Transform > Scale, narrow the "Layer 1" and turn it a little. Now apply Filter > Noise > Add Noise with the following settings: Amount->15, Gaussian->ON, Monochromatic->OFF. Then apply Image > Adjustments > Hue/Saturation and set the parameters: Saturation->-100.

Planetary Rings

Step 4.

Apply Image > Adjustments > Levels and set levels like shown in the pic.4.

Planetary Rings