Yes...if one is a honest taxpayer, he has nothing to worry about....in case of this demonetisation he can go to the bank and he can explain the source of money which he must have withdrawn from the bank itself some days back...so no worry.
But I know a few professionals who evade taxes and have kept over Rs 1 Cr in their bank lockers in 500 and 1000 Rs notes...these guys having tough time now explaining the source of this cash.
Smart_trade