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Lakshman Ram , Branch Manager , Property World Info (P) Ltd
Certain gifts can be accepted, viz., birthday gift offered by colleagues & staff. Certain gifts cannot be accepted, wherein, it tantamount to bribe, expecting UN-due favor, service-providers to company, etc, either in cash or kind
No - and I recommend to never accept them unless they are gifts you can share with your colleagues such as chocolate or fruit baskets.
IF you are to receive a fancy Mont Blanc pen or other items that can seem suspicious to a bribe or give some remote impression of preferential treatment, then definitely no. Just refuse it politely and state the reason.
If the person insists on getting you a gift recommend a gift your office can benefit from instead, and not you only.