1. A possessive pronoun differs from a possessive adjective.
Examples:
What color is your brother's jacket?
His jacket is black.
(your and his are possessive adjectives; your and his modify the noun jacket in both examples)
What color is yours?
Mine is blue.
(yours and mine are possessive pronouns - yours functions as a subject complement in the first example; mine functions as a subject in the second example)
2. "It's" is not a possessive pronoun or adjective; it is a contraction of it is or it has. The correct form is 'its'.
Example:
It's not my book = it is not my book
It's got five bedrooms = it has got five bedrooms
Its got beautiful feathers = the bird has beautiful feathers.
Doubts on this article