Do you say "What time is it now?" Is it natural English or not?

"What time is it now?" is okay, but you can leave off the word "now". Also, especially in the US, you should be less direct. Americans prefer a softer approach, like:

"Excuse me, what time is it?"

"Excuse me, what time do you have?" (Less formal)

It's softer. You get someone's attention first with "Excuse me", then ask for the time."

By the way, it's 1:35 PM. :0)

When speaking in a regular conversation you would say "What time is it". The only reason you would add the "now" part would be if you've asked the question before. Say you ask a friend "What time is it" because you're waiting for something. They tell you the time and 10 minutes later you ask again, you could say "What time is it now?". So if you ask more than once, you normally would put "now" at the end.

"Do you have the time" is a polite way of asking for the time if you're talking to a stranger or someone formal like at a job meeting.

It sounds a little weird but not too much.Most people say what time is it or do you have the time.

It makes sense but it's more natural to say "What time is it?"

Leave out the now

From the US. You can say either way, you can even just take off now and say "What time is it?". "Do you have the time?" is a more polite way of asking.

a bit. we usually say just Do you know what time it is? but not too weird

"now" is unnecessary. "What time is it?" would be best. Its assumed you mean "Now" unless you state otherwise.

Compare to asking about a past event: "What time was it when we started?"

leave out the "now" since it doesn't make sense