The first field on the source line is the label field. The label field follows these rules:
A label may be indented (not starting with the first character of the line) if the last character in the label is a colon (:). Local labels have a scope limited by any two bounding non-local labels. Local labels are useful in the instance that a label is needed, but you don't need to refer to it outside of a limited scope, such as in the case of a DO loop.
You may not define a label twice, unless you do so in conjunction with a SECTION, a SET directive, or as a local label.