A person who does not have the notion of ‘I’ and ‘mine’
देह–इन्द्रिय–आदौdeha–indriya–ādau
in the body, senses etc
कर्तव्येkartavye
in one’s duty (enjoined action)
यः तिष्ठेत्yaḥ tiṣṭhet
one who stays
औदासीन्येनaudāsīnyena
with disinterestedness
सःsaḥ
he
इष्यतेiṣyate
is agreed to be
जीवन्–मुक्तःjīvan–muktaḥ
a person who is liberated while being alive
Translation
A person who has transcended the notion of ‘I’ and ‘mine’ in the body, senses etc., and also in his duty and stays with disinterestedness is fit to be called a person who is liberated while being alive.
Annotation
The word ‘etc’ is meant to include the mind (manas), intellect (buddhi) and ego (aham) (Jagadguru). The word ‘duty’ refers to the fact that there is a prescribed duty for every person in the society depending on his innate characteristics (varṇa) and the stage of life (āśrama).