Rice (Oryza sativa L.) plants experience multiple abiotic stresses when they are submerged. In addition to the effects of submergence on gas exchange, water also creates shading of submerged plants. It is believed that responses to submergence are actually responses to low light stress, although during complete submergence in addition to low light other environmental factors like reduce movement of gases affect the plant growth, and therefore, the consequences of submergence are not always alike to shade. We monitored the extent to which shade and submergence change the plant height, chlorophyll a fluorescence characteristics and CO₂ photosynthetic rate in three Indica rice cultivars, namely Sarala, Kalaputia and Khoda, which differed in submergence tolerance. There were both similarities and dissimilarities between the consequence of shade and submergence on rice plants. Under shade conditions, elongation growth was greater in submergence tolerant cultivars than the sensitive cultivar, whereas elongation growth was greater under submergence in sensitive cultivar. The reduction in chlorophyll content, damage to PSII, and decrease in CO₂ photosynthetic rate was more notable under submergence than the shade conditions. Our results show that several JIP-test parameters clearly distinguish between submergence tolerant and sensitive cultivars, and responses to submergence among different rice cultivars differ depending on their sensitivity to submergence. There were different interactions between cultivar and shade (~low light) and cultivar and submergence.