These types of puzzles are known as charades. What you have to do is to find two words that are referred to in the first stanza and the second stanza and put them together to form the third word in the third stanza.
Just for example, if my first refers to 'off' and my second refers to 'ice', then my whole will be the 'office'.
My first is present - future's past -
A time in which your lot is cast.
My second is my first of space
Defining people's present place.
My whole describes a lack of site -
A place without length, breadth, or height.
There are people and strange monkeys on this island, and you can not tell who is who (Edit: until you understand what they said - see below). They speak either only the truth or only lies.
Who are the following two guys?
A: B is a lying monkey. I am human.
B: A is telling the truth.
A farmer and his neighbour once went to Emperor Akbar"s court with a complaint. "Your Majesty, I bought a well from him," said the farmer pointing to his neighbour, "and now he wants me to pay for the water."
"That"s right, your Majesty," said the neighbour. "I sold him the well but not the water!"?
The Emperor asked Birbal to settle the dispute. How did Birbal solve the dispute?