The column cannot be added because the total size of the columns in this list exceeds the limit. Please delete some other columns first.
Troubleshoot issues with Microsoft SharePoint Foundation.
Correlation ID: 4cf5829c-c8b1-20d1-a87e-7aea73697765
Date and Time: 4/1/2014 5:58:57 PM
If you are having this error that means you must be trying to make a list whose columns my exceeds the limit.
How to over come this error?
The one way is to decrease the number of columns is to delete the unnecessary columns from the content type other is Split the list into two separate list;
If you are adding more lookups that exceeds the threshold then you need to increase the "List View Lookup Threshold ". How ? Go to central administration under the Application Management find Manage web applications and then find "General settings" and the click on resource throttling.
Then,
To understand that you must know that what are boundaries.
Boundaries: Static limits that cannot be exceeded by design
So the boundary is 8,000 bytes per row. 256 bytes are reserved for built-in columns, which leaves 7,744 bytes which means that size of all the site columns must be less than this limit.
Here is a link to technet.microsoft.com that describes "Software boundaries and limits for SharePoint 2013"