You have a thousand Re. 1 coins with you. You have ten bags with you and you can put any number of coins in each of the bags. The condition is that if someone asks you for any amount between 1 and 1000, you must be able to give that amount by just giving the bag (you are not allowed to open the bag and give coins).
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.