Presence of pollutants in Air is the most prominent problem globally confronted now a day. The extreme use of fueled vehicles and rapid urbanization has deteriorated the air quality. This deteriorated air contains hazardous compounds like Mono-oxides & Di-oxides of carbon, Sulphur, Nitrogen, Atmospheric Particulate Matter. Exposure to such hazardous compounds in the air for a long time can cause damage to the human health. Traditional air monitoring systems consists of monitoring stations. As far as traditional air quality monitoring methods are concerned, they are highly expensive and requires a regular maintenance. Due to these limitations, these stations are deployed in small numbers and also it provides indicative values of the sensed data. This monitored data has low resolution and precision. This paper proposes framework for the development of smart and portable system using Internet of Things (IoT) for monitoring of hazardous exhaust compounds in the air using real time. This framework consists of different types of sensors and a controller that are used for monitoring and assessment of the air quality. Also it is used to check the presence of hazardous compounds emitted by different industries and share this data through IOT. The outcome of the proposed research work can be utilized by industries as well as by other agencies to carry out an audit of hazardous exhaust components present in air, so as to take necessary precautions and to save human.