hey guys here is the good news...
i bought a usb sound card for 5$ which is probably a china make. But that crapy card got
detected and working..lol..i said working. both audio and line-in. Now i am using it for skype ...

sound quality is great ( i mean mic ). it uses C-media Chip.Both input and Output is working.
people who are all facing sound problem may go for it. worked out of the box.
http://img341.imageshack.us/img341/6896/inputch4.png
http://img297.imageshack.us/img297/1176/outputud9.png
http://img297.imageshack.us/img297/3553/skypeyf7.png
USB SOUND CARD-photo
http://img98.imageshack.us/img98/5760/dsc00104qn3.jpg
http://img98.imageshack.us/img98/640/dsc00105bg3.jpg
http://img299.imageshack.us/img299/6367/dsc00107nq9.jpg
(Note:sorry about the long link,tinyurl gave some error)