ASP.NET 4.0 has not been registered on the Web server. You need to manually configure your Web server

Here Mudassar Ahmed Khan has explained how to solve the following error happening in Visual Studio and IIS server. ASP.NET 4.0 has not been registered on the Web server. You need to manually configure your Web server for ASP.NET 4.0 in order for your site to run correctly, Press F1 for more details.