Its is a possessive pronoun that shows ownership or possession. It is used to indicate that something belongs to or is associated with it. For example:

• The cat has lost its toy.
• The company is proud of its achievements.

It’s is a contraction of “it is” or “it has”. It is used to mean “it is” or “it has” in a shorter, more informal way. For example:

• It’s a beautiful day. (it is)
• It’s been a long day. (it has)

In summary, its is a possessive pronoun that shows ownership or possession, while it’s is a contraction of “it is” or “it has”.