US-P14.048ab ।US-P14.048cd ॥
In plain words
Everything with form and everything without it, all action and every trace action leaves behind — all of it is imagined as standing outside you, whose whole nature is seeing. Ignorance puts it there; only deluded eyes place it in the Self. Push it away, saying "not this," and the Seer is what is left.
Close to the Sanskrit
The formless and the formed, and action and its impressions, are imagined as outside the one whose very nature is Seeing — for by ignorance, upon the Self, by those of deluded vision. Having removed them thus, with 'not this,' the Seer is what remains.