do you have the time? 你知道现在几点了吗? ([美]适用于不知道对方有否戴手表)
what time is it? / what time do you have? 现在几点了?  ([英]适用于知道对方有戴手表)

do you have time to do sth./ for sth.?  你有时间...吗?
eg.do you have time to talk with me? 你有时间和我聊聊吗?
     do you have time for a cup of coffee?  有没有时间喝杯咖啡?