jis dil me;N kih taa-bakai samaa jaa))e
vaa;N ((izzat-e ta;xt-e kai nahii;N hai
1) the heart in which 'till when? to what extent?' would be contained/settled--
2) there, there's no esteem/honor for the throne of Kai [Kavus]
taa ba-kai : 'Till what time? to what extent? to what length? when? how much? how many?'. (Platts p.303)
samaanaa : 'To be contained or held (in, - me;N ), to go or get (in or into), to enter (in or into), to fit (in); to take up room fill or occupy space'. (Platts p.672)
((izzat : 'Might, power, grandeur, glory, honour, dignity, respect, esteem, reputation, good name'.
kai : 'A king, or a great king (esp. a king of Persia of the Kyanian dynasty): — kai-;xusrav , Cyrus the Great, king of Persia: — kai-kaavas , or kai-kaa))uus , 'Just or noble king'; name of a king of Persia'. (Steingass p.887)
FWP:
SETS
For background see S. R. Faruqi's choices. This verse is NOT one of his choices; I thought it was interesting and have added it myself. For more on Ghalib's unpublished verses, see the discussion in {4,8x}.
Persian kings of the the semi-mythological Kayanian dynasty were the heroes of the great Iranian epic the Shah-namah. One of them, Kai Kavus, was famously said to have a flying throne. But of course, to the person with taa ba-kai in his heart, such spectacular perks are about as impressive as the flicker of a firefly.
This verse about the transience of worldly glory (or of worldly life in general) can hardly help but evoke Shelley's Ozymandias.