IIS - Handler “PageHandlerFactory-Integrated” has a bad module “ManagedPipelineHandler” in its module list - ASP.net

This error is due to asp.net installation on IIS. To resolve this error you need to install asp.net on IIS. For this you need to execute aspnet_regiis.exe -i command. First location this exe. It should be on following location:
On Windows 32 bit:
C:\Microsoft.NET\Framework\v4.0.21006\aspnet_regiis.exe -i
On Windows 64 bit:
C:\Microsoft.NET\Framework64\v4.0.30319\aspnet_regiis.exe -i