Mix the saffron, raisins, cashews / almonds and sugar together into a mixture to be used a filling for the kala jamun.
Drizzle 2 Tbsp of the oil into the flour and mix well.
Grate the khoa and paneer. Mix the khoa, maida and paneer into a smooth dough. If the dough is still hard, mix a couple tablespoons of milk. The dough should be similar to a soft chapathi dough.
Using your palms, roll the dough into 1" diameter balls. Stuff a pinch of the filling in the middle of the ball and reshape into a ball.
Deep fry the these balls in ghee over medium low fire until they are dark brown. It will take about 8 - 10 minutes per batch. Patience is key.
Make syrup by adding 6 cups of sugar to 4 cups of boiling water. Cook for about 5 minutes after the sugar is fully dissolved. Soak the kala jamun in the syrup after it cools for 10 minutes.