Thank you for the post
Refer to the setp by setup installation :
Installing IIS
Internet Information Services is not installed on Windows XP Professional by default. However, IIS 5.1 is installed by default only if PWS was installed on your previous version of Windows. You can remove IIS or select additional components by using the Add/Remove Programs application in Control Panel. To start using IIS, see Quick Site Setup with IIS and The IIS snap-in.
To install IIS, add components, or remove components
For a detailed description of the IIS optional components, see Installing IIS Optional Components.
Click Start, click Control Panel, and double-click Add/Remove Programs. The Add/Remove Programs application starts.
In the left column of the Add/Remove Programs dialog box, click Add/Remove Windows Components.
When the Windows Components Wizard appears, click Next.
In the Windows Components list, select IIS.
Click Next, and follow the instructions.
Do the test with the folling link
http://localhost/
(Press Enter it starts with the following link)
http://localhost/localstart.asp