Heat enough oil in a deep kadai over medium heat until it reaches about 350°F (175°C).
Meanwhile, whisk together the besan, rice flour, ajwain, Kashmiri chili powder, turmeric, garam masala, cumin powder, chaat masala, ginger-garlic paste, salt, and baking soda. Gradually add water while whisking to make a smooth, thick batter that coats the back of a spoon.
Pat the paneer pieces dry with paper towels. Dip each piece into the batter, ensuring it is evenly coated on all sides.
Carefully place the coated paneer into the hot oil, frying only a few pieces at a time to avoid overcrowding and cook for 3 to 4 minutes, turning occasionally, until the pakoras are crisp and evenly golden brown.
Transfer them to a paper towel-lined plate or wire rack to drain excess oil.
Sprinkle with a little chaat masala while still hot and serve immediately with mint chutney, tamarind chutney, or ketchup.