3 1/2 cups refined flour [maida]
1 tsp salt
5 tsp baking powder
1 tsp powdered cinnamon 
1 tsp powdered nutmeg
2 Tbsp butter
3 cups sugar
2 eggs - beaten well
3 cups milk 
Oil to deep fry
Sift flour with salt, baking powder, cinnamon and nutmeg and keep aside.
Mix butter and sugar. 
Add eggs and beat well.
Add milk and flour and mix into a dough like consistency.
Roll the dough on a lightly floured surface to 1 inch thickness.
Cut with floured doughnut cutter and let stand for 15 minutes.
Heat oil and add the doughnuts to it over high heat.
Turn immediately and lower heat to medium and fry till brown.
Drain on absorbent paper and serve.

Courtesy: Chef Niru Gupta