What is the treatment for itchy rashes around anus?

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Stop that cream immediately. It is a fungal infection and you are using a wrong cream. Also keep the following precautions in mind.

1. Do not keep the area wet at all. Use powder frequently to keep it dry.
2. Avoid itching and do not scratch it. Change the undergarments regularly.
3. Do not apply any general or steroid cream like Betnovate (Betamethasone), etc.
4. Do not stop the medicine once you cure. Continue the medicine for a long time to completely kill the fungus.
5. Avoid excessive sweating and wet clothes.
6. Check diabetes and thyroid because in this case, it is really recurrent even after proper treatment.

Regarding treatment, I suggest Ketoconazole cream plus tablet Terbinafine 250 mg for two months or Terbinafine cream plus Fluconazole 150 mg twice in a week for two months or tablet Itraconazole 200 mg once a day for a month along with any of the cream above.