“It’s” is a contraction of “it is” or “it has.” You use “it’s” when you can replace it with “it is” or “it has” in a sentence and the sentence still makes sense.

Example:

• It’s raining outside. (It is raining outside.)
• It’s been a long time since we talked. (It has been a long time since we talked.)

“Its” is a possessive pronoun used to indicate ownership or association.

Example:

• The dog wagged its tail.
• The company is known for its excellent customer service.

In summary:

• Use “it’s” where you can substitute “it is” or “it has.”
• Use “its” to show possession or association.