According to Osho, time has two meanings: chronological clock-time for physicists, and psychological time, which is the mind itself. Mind manufactures past (memory) and future (desire), while the true present is timeless and mindless. In deep meditation, as thought ceases, time disappears; living totally herenow 'stops the world,' opening eternity. Thus, time is mind—and mind is death.
Time in your head comes from thinking about yesterday and tomorrow; if you simply rest in the present without thoughts, time vanishes.