Formal:
* ਕਿਹੜਾ ਸਮਾਂ ਹੈ? (Kihrda samaan hai?) - This is the most common and formal way to ask.
* ਸਮਾਂ ਕੀ ਹੈ? (Samaan kee hai?) - This is another formal option.
Informal:
* ਕਿੰਨਾ ਵਜੇ ਹੈ? (Kinna vajje hai?) - This is a more casual way to ask.
* ਸਮਾਂ ਕੀ ਹੋਇਆ? (Samaan kee hoiya?) - This is a more informal way to ask.
You can also add "ਹੁਣ" (hun) - "now" after any of these phrases to emphasize that you want to know the current time.
For example:
* ਕਿੰਨਾ ਵਜੇ ਹੈ ਹੁਣ? (Kinna vajje hai hun?) - What time is it now?
* ਸਮਾਂ ਕੀ ਹੋਇਆ ਹੁਣ? (Samaan kee hoiya hun?) - What time is it now?
Remember, the best way to ask "what time is it" in Punjabi depends on the specific situation and your relationship with the person you are speaking to.