import tkinter as tk
from tkinter import BOTH, END, LEFT
my_w = tk.Tk()
my_w.title("Aimtocode")
my_w.geometry("500x300")
def my_upd():
my_str.set(t1.get("1.0",END)) # read the text box data and update the label
my_str = tk.StringVar()
l1 = tk.Label(my_w, text='Your Name', width=10 ) # added one Label
l1.grid(row=1,column=1)
t1 = tk.Text(my_w, height=1, width=20,bg='orange')# added one text box
#t1=Entry(my_w, width=10)
t1.grid(row=1,column=2)
b1 = tk.Button(my_w, text='Update', width=10,bg='blue',command=lambda: my_upd()) # button added
b1.grid(row=1,column=3)
l2 = tk.Label(my_w, textvariable=my_str, width=20 ) # added one Label
l2.grid(row=1,column=4)
my_str.set(" I will update")
my_w.mainloop()