yes you can do it by using Simple code.
Point lp;
private void textBox1_MouseDown(object sender, MouseEventArgs e)
{
lp = new Point(e.X, e.Y);
}
private void textBox1_MouseMove(object sender, MouseEventArgs e)
{
if (e.Button == MouseButtons.Left || e.Button == MouseButtons.Right)
{
this.textBox1.Left += e.Location.X - lp.X;
this.textBox1.Top += e.Location.Y - lp.Y;
this.label1.Left += e.Location.X - lp.X;
this.label1.Top += e.Location.Y - lp.Y;
}
}
Now when you drag your textbox Label follow it and moves as textbox moves.