I stay in India and I want to get a BCA and MCA from IGNOU. Can I expect a good career in computer applications by studying through distance education?

There is no problem in going for BCA and MCA from IGNOU. It's by far best distance learning university in India. It's very easy to get admission there. No entrance exams ( for BCA and MCA). IGNOU degrees are accepted all over India. The one drawback is that most of the MNC's do not accept distance learning degrees which I think should not be there. Besides this, there is no  other drawback with IGNOU. Weekend classes, less fee, flexible exam options. You can even work while pursuing your degree from IGNOU. I am also pursuing MCA from IGNOU and am currently working in an IT firm as a recruiter. All the best!

No issues, it is recognized almost everywhere but regular degrees are still considered better, i can suggest following things from my observations- 1. Be ready for a good fight for  your first job, 2. Don't hesitate if you got a job in a smaller company with less salary, 3. i will suggest you to get a job parallel to your study (don't worry about the salary because that is going to be very small compare to other software engineers, but believe me you will learn a lot), this is gonna help you a lot after study, you will find yourself ahead of half of the market when you will complete your academics.

IGNOU's degrees are accepted everywhere so you should not worry. And as far as career is concerned it is a very dynamic field you can find updates coming on hourly basis so it depends on fact that how updated you are.

I would rather suggest you to go for MOOC's. They are equally challenging as that of an original course in MIT, Harvard. And the best part? The classes are taught by world class professors! And even they provide you with a certificate of the course accomplishment. So all in all... you win! So better go for a MOOC!

Given your age and passion I think it will be a good idea to try provided you remember that age is not in your side. Since you already have a background of commerce why not do some course in computer applications which will augment you career prospects? No doubt a degree from IGNOU is well recognised but you will have to be doubly efficient and skilled to compete with those who will be coming from regular class. That is the mindset of employers in India, as of now.