Deep neural networks have been displaying superior performance over traditional supervised classifiers in text classification. They learn to extract useful features automatically when sufficient amount of data is presented. However, along with the growth in the number of documents comes the increase in the number of categories, which often results in poor performance of the multiclass classifiers. In this work, we use external knowledge in the form of topic category taxonomies to aide the classification by introducing a deep hierarchical neural attention-based classifier. Our model performs better than or comparable to state-of-the-art hierarchical models at significantly lower computational cost while maintaining high interpretability.