Substitution of aliovalent N3- and F- anions in place of O2- in ZnO brings about major changes in the electronic structure and properties, the composition, even with 10 atomic percent or less of the two anions, rendering the material yellow colored with a much smaller band gap. We have examined the variation of band gap of ZnO with progressive substitution of N and F and more importantly prepared Zn2NF which is the composition one obtains ultimately upon complete replacement of O2- ions. In this article, we present the results of a first complete study of the crystal and electronic structures as well as of properties of a stable metal nitride fluoride, Zn2NF. This material occurs in two crystal forms, tetragonal and orthorhombic, both with a band gap much smaller than that of ZnO. Electronic structures of Zn2NF as well as ZnO0.2N0.5F0.3 investigated by first-principles calculations show that the valence bands of these are dominated by the N (2p) states lying at the top. Interestingly, the latter is a p-type material, a property that has been anticipated for long time. The calculations predict conduction and valence band edges in Zn2NF to be favorable for water splitting. Zn2NF does indeed exhibit good visible-light-induced hydrogen evolution activity unlike ZnO. The present study demonstrates how aliovalent anion substitution can be employed for tuning band gaps of materials.