Boil the milk in a heavy bottomed saucepan. When boiling add the lime/lemon juice. You will see the curds separating from the whey. When the liquid is a greeny/yellow colour, pour contents of saucepan into a fine sieve or through a muslin cloth. Let the paneer strain for 30 or more minutes. Then chop the paneer into small cubes. Add the oil/ghee to a heavy bottomed frying pan or wok. Add cumin seeds till golden brown then add hing till light brown. Add chopped paneer and sprinkle with salt and pepper. Cook until light brown on both sides, turning once only.
Variations
Mush up the paneer with your hand and cook as above
Garnish with fresh herbs
Cook chooped onions and garlic first and then add paneer
Fry an 1/8 tsp furmeric after the hing to make a yellow colour.