An efficient algorithm is proposed to extract components of a composite signal. The proposed approach has two stages of processing in which the time-frequency supports of the individual signal components are identified and then the individual components are estimated by performing a simple time-frequency domain incision on the identified support of the component. The use of a recently proposed time-frequency representation [1] significantly improves the performance of the proposed approach by providing very accurate description on the auto-Wigner terms of the composite signal. Then, simple fractional Fourier domain incision provides reliable estimates for each of the signal components in O(N log N) complexity for a composite signal of duration N.