This is bit easy. on button click you need to set text to label.
write a javascript under
<head> tag
<script language="Javascript">
function setLabel()
{
document.getElementById("Label1").innerHTML = document.getElementById("Txt1").value;
return false;
}
</script>
</script>
call above javascript function on button click
<asp:button id="BtnId1" runat="Server" value="SerText" onclientclick="return setLabel()">