No I am looking at the formula you gave me and asking which time the limit is applying to?
OK, take two observers: observer A is on the earth. Observer B is going from the earth to the sun at velocity v.
The the observer time in the formula is the time for the journey as measured by a clock at rest with respect to A. The proper time in the formula is the time for the journey as measured by a clock on the ship (and hence, at rest with respect to B). Two clocks. They will measure different amounts of time.
No matter what v is, we will have
time for A = (time for B)/sqrt(1 -(v/c)^2 ).
This is the basic equation with observer time given by the time for A and with proper time give as time for B. Are we good so far?
Now, in the limit as v goes to c (so we look at ships going faster and faster, with the speed getting closer and closer to c), the time for the ship gets closer and closer to 0. So, the faster ship measures a smaller amount of time for the trip from the earth to the sun.
Also, as v gets closer and closer to c, the time for A (the time as measured by the earth) gets closer and closer to 500 seconds (8 minutes, 20 seconds).
So, the *limit* of the left hand side is 500 seconds.
The limit of the right hand side gives 0 on top and 0 on the bottom. This is a 0/0 form for a limit, which is indeterminate. BUT, because of the basic equation, we know that the value of this limit is 500 seconds: the time (as measured from the earth) for light to go from the earth to the sun.
BUT, since the time for B is going to 0, the proper time for a *photon* will be *this* limit, which is 0.