this looks like a homework problem
what does 7 segment display PCB mean?
when does the buzzer buzz?
you gave this title:
"Need to make a up down counter from 40-00 and 00-40 without resting using two 74192 ic."
when started, does it count down from 40 to 00, then automatically count up from 00 to 40?
then what?
192 is a decade counter that will count up or down, depending on which clock input you use.
read the data sheet for the 192, the 7 segment display pcb
see how the output of the counters becomes displayed digits
make sure you understand what the two clocks do, and what the two terminal counts do
start drawing your circuit, one function at a time