Hi,
No, principal signature is not necessary in class 10th marksheet for counseling. There is a very rare chance of anyone asking you for the signature from the principal of your school. However, to be on the safer side I would suggest you to take out time and get it signed by the principal of your school. If you can't then don't worry it won't be such a problem to you in any way or be any hurdle in your counselling.
I hope this helps,
All the best
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