Final answer:
A resident consultant is a tax consultant who is physically present for 70% of their working time to conduct their duties in the principal or branch office.
Step-by-step explanation:
The statement is True. A resident consultant is a tax consultant who is physically present for 70% of their working time to conduct their duties in the principal or branch office.
This means that they are physically available and accessible to provide tax consultation services to clients on a consistent basis. Being physically present helps establish trust and allows for effective communication with clients.