Of the non-real there is no existence; of the real there is no non-existence. The truth of both has been seen by the seers of reality

The most philosophically dense verse. Asat (non-real, the changing) has no bhāva (true existence, persistence); sat (real, ātman) has no abhāva (non-existence, absence). This is Vedānta logic: only the immutable is real in the absolute sense.

The tattva-darśibhiḥ (seers of reality/essence) have dṛṣṭaḥ (seen) the antaḥ (ends, conclusions, limits) of anayoḥ (both). Direct perception (darśana) transcends speculative argument.

Sat is ātman; asat is everything that changes, including bodies and circumstances. Death affects only asat.