The spectral properties of a multilevel atomic system interacting with multiple electromagnetic fields, a modified inverted-Y system, have been theoretically investigated. In this study, a numerical matrix propagation method has been employed to study the spectral characteristics beyond the validity regime of the rotating wave approximations. The studied atomic system, comprising of several basic sub-systems i.e. lambda, ladder, vee, N and inverted-Y, is useful to study the interdependence among these basic sub-systems. The key features of the obtained probe spectra as a function of coupling strength and detuning of the associated electromagnetic fields show inter-conversion, splitting and shifting of the transparency and absorption peaks. The dressed and doubly dressed state formalism have been utilized to explain the numerically obtained results. This study has application in design of novel optical devices capable of multi-channel optical communication along with switching.