Heat 1 tablespoon butter or oil in a pan. Temper with cumin seeds. Add cubed onions and saute for a minute. Add crushed ginger, slit green chilies and saute for a minute.
Add chopped or pureed tomatoes and saute well till the tomatoes shrink.
Add the cubed bell peppers and diced carrots and saute well in high flame for 3-5 minutes. Add salt, chili powder and garam masala powder.
Add the cubed paneer and saute for 2 minutes in medium flame. Garnish with cilantro leaves or 1 teaspoon crushed kasuri methi. Serve paneer curry hot with roti or naan or rice.