So, when to use "its" and when to use "it's"?
It's : The apostrophe (') in this case stands in for missing letter(s). It's is a short form of "It is" or "It has".
Examples:
It's a bright day => It is a bright day.
It's been a long time => It has been a long time.
It's common-sense! => It is common-sense!
Though not wrong, it is uncommon to see "it's" at the end of a sentence as in, "That is the way it's".
In general, 's would stand for "of something". "Arjun's pen" => "Pen of Arjun" or "Pen belonging to Arjun". Though similar, "It's" does not mean "belonging to it".
That distinction goes to ........
Its : Yes, its means "of it" or "belonging to it".
Examples:
I have a pen. Its colour is black.
That's my cat and these are its kittens. (Note that "That's" stands for "That is").
I am not an english major or private either, but I believe this states my point. But thanks for all those who came to my defense. :roll: