Is "its" or "it's" the possessive?
Its (no apostrophe) is the possessive. It's (with apostrophe) is short for "it is."
Contexti
This is the single most frequent apostrophe error in published English — even major newspapers slip up a few times a year. The rule looks backward because its is the odd one out among possessives; almost every other noun adds 's to show ownership.
A little moreii
English usually marks possession with an apostrophe — Priya's book, the company's logo. It breaks the rule: the possessive is its, and the apostrophe is reserved for the contraction of "it is." Read the sentence with "it is" out loud — if it works, you want it's; if it does not, you want its.
Examplesiii
The cat chased it's tail.
The cat chased its tail.
Possessive (belonging to the cat) → *its*, no apostrophe.
Its been a long day.
It's been a long day.
*It has been* → the contraction → *it's*.
Watch foriv
There is no exception. Its is always possessive; it's is always a contraction. Any other use is a typo.
The full entryv
Possessive versus contraction — a rare case where no apostrophe wins.