Q:

Python PEP8 conventions

I'm a Python beginner, I read pep standards which must follow while programming in python 
http://legacy.python.org/dev/peps/pep-0008
Now I have a doubt. As they have mentioned that you should not put spaces around the equal sign while using keyword argument or a default parameter value in functions or Dict.
For example
YES
def myfunc(key1=val1, key2=val2, key3=val3)
NO
def myfunc(key1 = val1, key2 = val2, key3 = val3)
Thats fine but what if I break down these in multiple lines. something like this(when we have many parameters or long name)
def myfunc(key1=val1, 
            key2=val2, 
            key3=val3)
In this case, I think, we should put space around the equal sign. am I correct. because these all are about readability but I'm just curious if there is standard for this too. Looking for best practices.
Same thing for Dict.
new_dict= Dict(
       key1=val1, 
       key2=val2, 
       key3=val3
)

And should I put a comma after last argument in dict unlike example mentioned above, I didn't put a comma after last value (key3=val3)

A:

Thats fine but what if I break down these in multiple lines. something like this(when we have many parameters or long name)
def myfunc(key1=val1, 
       key2=val2, 
       key3=val3)

In the code you give, you are not putting whitespace around the =, so you are complying with pep8 in respect of operator spacing (your indentation does not comply with pep8).
In general, you can write your code however you like. If you don't comply with pep8, other people generally won't find your code as easy to read. If you have local standards within your company, that should supercede pep8. If you don't have standards that direct you to violate pep8, your colleagues will likely hate you for breaking pep8.
If you don't have a standard at all, future you will also hate present you.

A:

PEP8 clearly says:

Don't use spaces around the = sign when used to indicate a keyword
  argument or a default parameter value.

You don't need to put white spaces around the equal sign in both cases.
If you are not sure whether your code follows PEP8 standard or not, use flake8 static code analysis tool. It would raise warnings in case of code style violations.
Example:
Consider you have extra whitespaces around the equal signs:
def myfunc(key1 = 'val1',
           key2 = 'val2',
           key3 = 'val3'):
    return key1, key2, key3

flake8 outputs a warning for every unexpected whitespace:
$ flake8 test.py
test.py:3:16: E251 unexpected spaces around keyword / parameter equals
test.py:3:18: E251 unexpected spaces around keyword / parameter equals
test.py:4:16: E251 unexpected spaces around keyword / parameter equals
test.py:4:18: E251 unexpected spaces around keyword / parameter equals
test.py:5:16: E251 unexpected spaces around keyword / parameter equals
test.py:5:18: E251 unexpected spaces around keyword / parameter equals

