Hi Shahbaz, 1) "He is too smart for you." This is something a person might say as an insult to a girl who wants to date a guy who is very intelligent. Or, a man has tricked someone or gotten away from someone who is trying to catch him, a person might use this phrase about him. 2) This sentence is actually not correct. I think what you want to say is, "He is smarter than you," which means that "he" is more intelligent than "you". It can sort of be used in the same sense as sentence #1, but it's a little more general.

#2 doesn’t make since, its bad English. He is too smart for you. Is correct.

He is too smart for you means, you are not smart or not enough for someone. Second sentence has a grammar mistake, you would say he’s is smarter than you. Then it will mean the same as the first one.