Line a colander with a double thickness of cheesecloth, allowing a few inches to drape on either side of the colander. Set aside.
In a stock pot or Dutch oven, heat the milk over medium heat, stirring often as it warms.
When small bubbles appear on the surface of the milk, add 4 tablespoons of the lemon juice and reduce the heat to low.
Continue stirring gently as the milk curds appear.
If after a few minutes the milk curds (small whitish solids) have not fully formed separating from the whey (light greenish liquid), add another 1-2 tablespoons of lemon juice until the curdling is obvious.
Continue to stir gently to allow curds to form (and not break apart).
Remove the pot from the stovetop and pour contents into the prepared colander. Allow the liquids to drain and rinse lightly with cool water.
Fold the shorter sides of the cheesecloth inward over the curds and tie the long ends once to make a small packet. Squeeze gentle to release more liquid and tie to the kitchen faucet; allow to drain into the sink for 10 minutes.
Remove from the faucet and turn the cheesecloth packet of curds on its side with the tied area on the side as well.
Press on the cheese bundle to form a round shape.
Place the packet in a round cake pan (or other similar flat bottomed pan). Place a flat saucepan on top of the cheese and something heavy inside to compress the cheese (I put a brick in the saucepan).
Place in the refrigerator and allow to sit 1-2 hours until the cheese is fully formed. Note: it can sit longer.
Unwrap the cheesecloth to slice and eat the paneer.