Python uses indentation to indicate blocks of code. Indentation is very important in Python and incorrect indentation will cause errors. Code is structured through indentation, making the code more readable without explicit braces or delimiters. There are two types of comments in Python - single-line comments which are applied on a single line using # and multi-line comments which are applied over multiple lines using triple quotes. Comments are used to explain and document code for human readers to understand it better.