ABSTRACT (IoT) Internet of Things has attracted wide interest within workplaces and outside world in the past few years. With growing need for increased connectivity between computing devices, more number of researchers are focusing on increasing security and efficiency of the technology. In particular, a large volume of contemporary literature is devoted to security and intrusion handling. IoT involves connecting resource-constrained devices to highly intrusion prone and unreliable internet connection via IPV6 network and 6LoWPAN networks. Though proposals have been made to secure the network through encrypting data and authentication, exposure to wire-less attacks from within the 6LoWPAN networks remain. Given the high probability of such attacks to succeed, deploying efficient intrusion detection systems has become unavoidable. The present state of IoT security evincing that there are no dedicated intrusion detection systems that meet the requirements of the IPv6-connected IoT, which is since the present strategies of intrusion detection in IoT formulated by customizing the existing models related to Wireless Sensor Networks (WSN) and conventional Internet. This manuscript reviews the contemporary designs, implementations, and evaluations of novel intrusion detection systems for the IoT depicted in recent literature. This review primarily explored the taxonomy of the IoT architecture, requirements, possible attacks and security breaches. In addition, depicts the contemporary review of recent literature relates to security and intrusion detection in IoT. Our review portrayed that the existing contemporary models are having significant limits to detect malicious nodes related to critical aspects such as sinkhole and selective forwarding attacks. In addition, the review evincing that there is a significant need of research to depict intrusion detection systems related to IoT.