Internet of Things (IoT) is an instantly exacerbated communication technology that is manifesting miraculous effectuation to revolutionize conventional means of network communication. The applications of IoT are compendiously encompassing our prevalent lifestyle and the integration of IoT with other technologies makes this application spectrum even more latitudinous. However, this admissibility also introduces IoT with a pervasive array of imperative security hazards that demands noteworthy solutions to be swamped. In this scientific study, we proposed Deep Learning (DL) driven Software Defined Networking (SDN) enabled Intrusion Detection System (IDS) to combat emerging cyber threats in IoT. Our proposed model (DNNLSTM) is capable to encounter a tremendous class of common as well as less frequently occurring cyber threats in IoT communications. The proposed model is trained on CICIDS 2018 dataset, and its performance is evaluated on several decisive parameters i.e Accuracy, Precision, Recall, and F1-Score. Furthermore, the designed framework is analytically compared with relevant classifiers, i.e., DNNGRU, and BLSTM for appropriate validation. An exhaustive performance comparison is also conducted between the proposed system and a few preeminent solutions from the literature. The proposed design has circumvented the existing literature with unprecedented performance repercussions such as 99.55% accuracy, 99.36% precision, 99.44% recall, and 99.42% F1-score.