देहोऽहमित्येव जडस्य बुद्धि -र्देहे च जीवे विदुषस्त्वहन्धीः ।विवेकविज्ञानवतो महात्मनोब्रह्माहमित्येव मतिः सदात्मनि ॥ १६२ ॥
In plain words
'I am this body' -- that is the idea of someone entirely unreflective. 'I' identified with the body and the individual soul together -- that belongs to a learned person. But for the truly great soul, the one who has discriminative knowledge, the conviction is simply this: 'I am Brahman', resting in the Self that is pure existence itself.
Close to the Sanskrit
The notion 'I am the body' belongs only to the unreflective person. The notion 'I' with respect to the body and the individual soul belongs to the learned person. For the great soul possessed of discriminative knowledge, the conviction is only 'I am Brahman', resting in the Self which is pure existence.