A common confusion between "its" and "it's" in English

There is a general confusion between the usage of "its" and "it's" and such a mistake often appears in presentation slides and written notes.

For example, when we write, "The dog is playing with its master", this is CORRECT!; But, when we write, "The dog is playing with it's master", this is WRONG!

When we say, "It's raining heavily!", it actually means, "It is raining heavily!". Or, we say, "It's been a long time since we last met." What it means is, "It has been a long time since we last met." So, it's = it is or it has. But, "it's" is not the same as "its".

"Its" is similar to his or her in terms of usage.