Acharya Prashant explains that while the law of karma and the cause-effect chain exist in the material world, the true self is not material and remains free from them. He uses the analogy of a ball moving up and down to show that while physical events follow a sequence, one's inner freedom remains untouched. He emphasizes that one should not identify as the doer or the experiencer of results. If one acts as a doer with expectations, they unnecessarily stretch themselves into the future, living in a state of incompleteness and desire. By disidentifying with the doer of past deeds, one becomes free from the consequences and punishments of the past. He further clarifies that being free from the past and having no eye on the future allows a person to engage with time without being burdened by it. When one has no stake in the past or expectations for the future, they can study history or project into the future without being overwhelmed. True mastery over the past and future comes only to the one who is deeply surrendered to the present. This state of relaxation and non-attachment ensures that karma no longer matters, as the individual remains the 'relaxed one' regardless of the actions being performed or the results that follow.