The discrete-time version of totally asymmetric simple-exclusion process (TASEP) on a finite one-dimensional lattice is studied with the periodic boundary condition. Each particle at a site hops to the next site with probability 0 <= p <= 1 if the next site is empty. This condition can be rephrased by the condition that the number n of vacant sites between the particle and the next particle is positive. Then the average velocity is given by a product of the hopping probability p and the probability that n >= 1. By mapping the TASEP to another driven diffusive system called the zero-range process, it is proved that the distribution function of vacant sites in the stationary state is exactly given by a factorized form. We define k-particle velocity correlation function as the expectation value of a product of velocities of k particles in the stationary distribution. It is shown that it does not depend on positions of k particles on a circle but depends only on the number k. We give explicit expressions for all velocity correlation functions using the Gauss hypergeometric functions. Covariance of velocities of two particles is studied in detail, and we show that velocities become independent asymptotically in the thermodynamic limit.