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I have 3 years gap in education , one year after 12th and 2 years after my btech ,Will these gap of 3 years affect my chances of getting placed into product based companies after my mtech (cse) from IISc/IITs ?
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No it shouldn't bother you if you have a good resume. Companies look for such criteria only  for mass recruitment or for service based companies.
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Well there are very less chances that the 3 years of gap will affect your chances of getting placed into product based based companies. The only thing at the time placement will matter is your skill. However, the companies may ask you the reason for the gap.
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