Well, it all depends on Your Interest and Your preparation.

Here are two things which need to be considered before a year drop

• Find that whether you are really interested in Engineering or not, because later many students realize that  Engineering was not their interest Also if you are really interested then you will become Engineer in any engineering college trust me, Thre are many good engineers who are not from IITs, NITs. and if you want just tag of IIT then you can go for year drop.
• You know yourself better than anyone else, find out yourself that whether You will be able to qualify JEE or not but be honest in it If you feel that you can do that then only try for it and also remember that You are going to work hard this year while preparing.
  

If in the above two steps you find yourself comfortable then only go for it Because your honesty will determine Your future and remember that students who do not take drop are also doing great so dont't think that you are loosing something. If you are determined that you are going to take drop then please don't change it because it will satisfy you.

This is the enough time to be well prepared for the exam why you want to drop your exam study. Please explain little more about so that you can get the relevant answer of your query.

Good Luck!