The difference between it's and its

Many of my students often do the guessing game when it comes to these two words: it's and its.
They can't differentiate between them.

In this post, I shall try to explain their difference.

Actually, it's is the contraction of 'it is'. You can make sentences such as the ones below.
1. It's getting cold. Let use get inside the house.
2. It's going to rain soon.
3. It's not my fault.
4. It's the only way I know how to get there.
5. It's really easy, believe me.

It's can also be the contraction for 'it has'. For instance, you can say 'It's been a long time since I visited my granny.'

As for its, it means 'of or belonging to it.' Look at the following sentences to see what I mean.
1 Its tail is quite long. [It can mean the dog's tail is quite long]
2 Its surface is smooth. [It can mean the table's surface is smooth]
3 Ir comes with its own carrying case. [It can mean a laptop's carrying case.]

So much and the difference between it's and its.