It primarily depends on two main factors. The first being the purpose or objective of doing M.Sc. and secondly the subjects in which M.Sc. is intended to be pursued. Generally, in the science subjects, practicals are required to be done for completing a M.Sc. degree course, though, in a course like MSc (Mathematics), practicals may not be required.
Generally, in the competitive examinations, the eligibility criteria is set as a recognized degree from a recognised institution. In such cases, a recognised degree obtained from a recognized institution through the distance learning mode is also likely to be accepted unless and until it is explicitly mentioned in the advertisement concerned. However, even in such cases, the other eligibility criteria like age limit etc. will apply.
There is no connection with completing a course and the monthly family income. Many students arrange to pay fees by doing part time jobs and through giving tuitions.
Let us encourage each other in sharing knowledge.