aammiz:
is this to get the value from master page or to assign the value to a control in master page?
Where is this label located?
Not sure what do you want, it seems that you want to know how to get(set) value from(to) a control,
Get:
Label label1 = Master.FindControl("Label1") as Label;
string strGetValue = label1.Text;
Set:
Label label1 = Master.FindControl("Label1") as Label;
label1.Text = "Set Value";