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Troubleshoot issues with Windows SharePoint Services.
 

Whenever you are trying to upload a file into the SharePoint with more than 50MB, you will get this error. By default, files in SharePoint document libraries are limited to 50mb.

Solution: (How 2 change the Upload Limit)
Go to Central Administration Site

1)   Go to Application Management tab

2)   Select the specific web application in which you are facing the problem-->select General Settings

3)   Click on “Web application general settings” under “SharePoint Web Application management”, and change the “Maximum upload size” to 60 MB (as per your requirement).

4)   Click “OK”

Please try to upload the document again and check the results

This time the document will upload without any issues..

Note:
Client machines have some problems as uploading large files may have additional issues due to HTTP timeout, IIS thread execution time outs. Check the web.config file under your web app. There is a setting under system.web to change the file size upload limit. The UI version saves the setting in the content db not the physical web.config under the inetpub\wwwroot folder structure.

I hope the above information will be useful to resolve this issue... in case of any problems then please let me know, Thanks!!