Abhishek "Abhi" Sharma is an energetic youngster from a rich family whose over-protective businessman father, the venerable Siddhant Kumar Sharma, wants him to take over his family business and has the final say in every decision of his son's life. Frustrated with this over-indulgence on Siddhant's part, Abhishek half-heartedly agrees to become engaged to Kajal, a rich man's daughter, but then falls for a middle-class young woman called Muskaan Mathur, unaware that he was involved in an incident with her father Manoj Mitter Mathur once when drunk. Eventually, as she confesses her love for him, Abhishek loudly proclaims his love for Muskaan too, but is caught by Siddhant; in the drama that ensues, Siddhant agrees to Abhishek's request of meeting Muskaan once, giving him an ultimatum that she must prove her worth within 7 days.
Muskaan joins the Sharma family for a vacation in Thailand on a false pretext by lying to her father for the first time; over the course of the 7-day bound, her actions irritate Abhishek to no end, as he wants her to behave in a specific way. However, at his best friend's wedding, Abhishek bumps again into Manoj Mitter Mathur, who locates his daughter. An altercation between the lovebirds eventually culminates in Muskaan announcing that she doesn't want to marry Abhishek, despite Siddhant having secretly decided in favor of it. Muskaan is confined to house arrest by Manoj Mitter Mathur upon returning to Mumbai, and the Sharma family, including Abhishek himself and his mother Laxmi Sharma, finally confronts Siddhant about his overbearing nature. Siddhant comes to terms with his son's desire to marry a girl of his choice, and lets Abhishek and the others choose their own paths in life. Later, he meets Muskaan and brings her back to the Sharma family, while making the same deal to her father that he had made to Abhishek. The film ends with Abhishek and Muskaan getting married.
The soundtrack of It's My Life was composed by Shankar–Ehsaan–Loy in their only collaboration with Bazmee, and was released by T-Series in the week immediately preceding the film's premiere. There are six songs on the soundtrack, five of which, including the title track, are penned by Nilesh Mishra, and the sixth is penned by Shabbir Ahmed, in his only collaboration with the trio.
