I know most of us can live without food for days but can people live while consuming the salty water. Because we could live with some scarce foods for months but what about water. Would our body physically accept us to drink salt water for survival.

Drinking salt water will kill you faster than drinking no water at all. Diarrhea will set in, along with severe dehydration. Your body will not be able to expel the salts taken in, which will become more severe over time with drinking salt water. Without purifying the salt water, and removing those salts, you will die quickly.

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As rosenrot said above, salt water will get you killed pretty quickly. Water is needed to flush wastes from your body. Some of those wastes are salt. If you add salt to your water, it's just extra minerals that have to be expelled somehow. Since all you're taking in is salt water, your body can't expel the salty wastes. Explosive diarrhea would also be a major bummer, adding to the dehydration.

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Here is one of the more common ways to distill water safely (and all of us have these materials):

http://www.wikihow.com/Turn-Salt-Water-Into-Drinking-Water

You could not live of salty water and it is rather hard to get the salt out of sea water.