Best way to find out where the framework is installed is to look in:
c:\windows\Microsoft .NET\Framework (and/or Framework64) folder. You should see a folder for each version of the framework installed below that folder.
If you have VS 2010 installed you have to have .NET 4.0 installed as it uses .NET 4.0 internally so if some application is complaining it's not there it's just plain wrong :-)
I suspect that SQL 2012 may require .NET 4.5 however and that may be the problem you're running into. Unfortunately THAT's very difficult to tell if it's installed. See my blog post a little while ago:
http://www.west-wind.com/weblog/posts/2012/Mar/13/NET-45-is-an-inplace-replacement-for-NET-40+++ Rick ---
>Hi everybody,
>
>I'm trying to install SQL Server 2012 Developer Edition from the Installation CD. My first attempt failed, so I'm re-trying now. I don't understand this
>(see attached).
>
>How come I don't have .NET Framework 4.0 if I have VS 2010 SP1 installed and I also have ASP.NET MVC the latest version installed? What may be wrong?
>
>The first time it finished with requesting to use the media for VS 2010 Ultimate. But I've installed it may be 2 years ago and I don't remember if I saved (and where) the installation files. I did install it using MSDN Ultimate subscription (which now has already expired).
>
>What should I do now?
>
>Thanks in advance.